ZMW (Pty) Ltd is a manufacturer of bicycles. The company maximum production capacity is 492 bikes per year; however, it normally budgets to produce 375 bikes annually. ZMW budgeted and actual fixed manufacturing overheads were R290 625 and R222 500 respectively for the year 2022. ZMW actually produced 300 bikes for the year. What is the over/under recovery of fixed manufacturing overheads for ZMW (Pty) Ltd?

a. R47 790 under-recovery b. R10 000 under-recovery c. R47 790 over-recovery d. R10 000 over-recovery