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Q1) Following information was extracted from accounting records of Bowater Company:

Estimated manufacturing overhead $260,000
Estimated machine hours 7,500
Actual machine hours worked 8,000
Actual overhead costs incurred:
Indirect materials $97,500
Indirect labor $60,000
Utilities $10,000
Insurance $25,000
Rent $70,000

Bowater's amount of overapplied or underapplied overhead would be:

a. $18,750 underapplied
b. $16,250 overapplied
c. $14,860 overapplied
d. $2,500 underapplied

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