Course Content-19 Spring - Sem: Managerial hapter 3 assignments 6 Required information Part 2 of 3(The following information applies to the questions displayed below) The following information pertains to Trenton Glass Works for the year just ended. 2 points Budgeted direct-labor cost: 70,000 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: eBook Depreciation Property taxes Indirect labor Supervisory salaries Utilities Insurance Rental of space Indirect material (see data below) $232,000 21,000 83,000 200,000 58,000 30,000 301,000 81,000 Print Reference Indirect material: Beginning inventory, January 1 49, 000 Purchases during the year Ending inventory, December 31 63,000 95,000 2. Calculate the overapplied or underapplied overhead for the year. (Round your intermediate calculations to 2 decimal places.)