A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that total factory overhead costs would be $412,794 and direct labor hours would be 45,866. Actual factory overhead costs incurred were $472,219, and actual direct labor hours were 54,655. What is the amount of overapplied or underapplied manufacturing overhead at the end of the year? a.$19,676 underapplied b.$19,676 overapplied c.$79,101 underapplied d.$491,895 overapplied

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Overheads

In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyze overhead expense as it helps the company in determining how much a company must charge for its products and services so that they can generate profit.  Overhead expenses depend upon the nature of the business operations.