Question 9 7.5 pts This company allocates overhead using machine hours. At the beginning of the year budgeted factory overhead was $336,000, and budgeted machine hours were 12,000. All the jobs that were worked on during the year had 13,000 total actual machine hours. Actual overhead costs were $352,000 for the year. Now it's the end of the year and they need to calculate the amount of under or over allocated overhead. Calculate this amount for them and select the correct answer. $16,000 under allocated $12,000 over allocated $16,000 over allocated $12,000 under allocated $28,000 under allocated $28,000 over allocated Next