ter 3) i Saved [The following information applies to the questions displayed below.] The following information pertains to Trenton Glass Works for the year just ended. Budgeted direct-labor cost...

Extracted text: ter 3) i Saved [The following information applies to the questions displayed below.] The following information pertains to Trenton Glass Works for the year just ended. Budgeted direct-labor cost 75,000 hours (practical capacity) at $16 per hour Actual direct-labor cost: 80,000 hours at $17.50 per hour Budgeted manufacturing overhead: $997,500 Actual selling and administrative expenses: 435,000 Actual manufacturing overhead: Depreciation Property taxes Indirect labor $234,000 21,000 82,000 201,000 58,000 33,000 301,000 78,000 Supervisory salaries Utilities Insurance Rental of space Indirect material (see data below) Indirect material: Beginning inventory, January 1 Purchases during the year Ending inventory, December 31 47,000 94,000 63,000 2. Calculate the overapplied or underapplied overhead for the year. (Round your intermediate calculations to 2 decimal place