Hill Higher Educ X Chapter 3 H Exercise 3-4 Underapplied and Overapplied Overhead [LO3-4] uses a cost formula that estimates $262640 of total manufacturing overhead for an estimated activity level of 13.400 direct labor-hours The company actually incurred $255.000 of manufacturing overhead and 12.900 direct la during the period 1. Determine the amount of underapplied or overapplied 2. dispose d to Cost of Goods Sold. Would the journal entry to of the underapplied or overapplied overhead increase or decrease the company's gross margin? By how much