54. Water Sports, Inc. uses a predetermined overhead rate based on direct labor costs. For...
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54. Water Sports, Inc. uses a predetermined overhead rate based on direct labor costs. For the current year, the company estimated overhead to be $300,000, based on budgeted production of 20,000 direct labor hours at $6 per hour. Actual overhead for the period was $290,000, with actual direct labor costs of $110,000. What was the over-applied or under-applied overhead for the period? A. $25,000 over-applied. B. $25,000 under-applied. C. $15,000 over-applied. D $15,000 under-applied. None of the above
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