Question 23 of 60 < > Current Attempt in Progress Sheffield Company, a highly automated manufacturer, compiled the following data for the current period: Budgeted Manufacturing Overhead Budgeted Direct Labor Hours Budgeted Direct Labor Cost $616000 200000 hours $316000 Budgeted Machine Hours Actual Manufacturing Overhead incurred Actual Direct Labor Hours used Actual Machine Hours used 100000 machine hours $616000 126000 hours 96000 hours -/2 ! Assuming that Sheffield Company uses machine hours as a cost driver, determine the amount of overapplied or underapplied overhead for the current period. Underapplied by $113000 Overapplied by $339000 Underapplied by $226000 Underapplied by $24640