Part D: Is the overapplied or underapplied overhead for the year normally transferred to cost of goods sold in the income statement?

Required information Exercise 13-18 (Algo) Manufacturing overhead-over/underapplied LO 13-5, 13-6 [The following information applies to the questions displayed below.] Creative Lighting Incorporated makes specialty table lamps. Manufacturing overhead is applied to production on a direct labor hours basis. During June, the first month of the company's fiscal year, $59,540 of manufacturing overhead was applied to Work in Process Inventory using the predetermined overhead application rate of $6.84 per direct labor hour. Exercise 1318 (Algo) Part c c. Identify two possible explanations for the overapplied or underapplied overhead. Note: You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect. Actual costs were less than anticipated. More hours were worked. Additional variable costs. Additional fixed costs. Allocated costs less than anticipated