The following activity took place in the past year: Raw materials purchased $160,000 ...

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Accounting

The following activity took place in the past year:
Raw materials purchased $160,000
Raw materials used (90% direct, 10% indirect) $140,000
Factory utility costs incurred $40,000
Salaries and wages incurred (80% direct, 10% indirect,
10% administrative) $250,000
Factory depreciation $37,000
Depreciation on sales staff cars $12,000
Estimated overhead allocation rate 52% of direct labor cost
Cost of jobs completed $300,000
The under- or overapplied overhead for the year was

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