Question: Please provide the solution to this general accounting question using proper accounting principles. Nancy Furniture Company's work-in-process inventory on August 1 has a balance of

Please provide the solution to this general accounting question using proper accounting principles.

Nancy Furniture Company's work-in-process inventory on August 1 has a balance of $32,700, representing Job No. 428. During August, $63,500 of direct materials were requisitioned for Job No. 428, and $42,800 of direct labor cost was incurred on Job No. 428. Manufacturing overhead is allocated at 120% of direct labor cost. Actual manufacturing overhead costs incurred in August amounted to $53,900. No new jobs were started during August. Job No. 428 is completed on August 27. Is manufacturing overhead overallocated or underallocated for the month of August and by how much

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