Amanufacturing company applies factory overhead based on direct labor hours. at the beginning of the year, it estimated that factory overhead costs would be $360,000 and direct labor hours would be 45,000. actual factory overhead costs incurred were $377,200 and actual direct labor hours were 47,000. what is the amount of overapplied or underapplied manufacturing overhead at the end of the year?
1) $1,200 overapplied
2) $16,000 underapplied
3) $1,200 underapplied
4) $16,000 overapplied

Need with an adjusting journal entrycmc records depreciation and amortization expense annually. they do not use an accumulated amortization account. (i.e. amortization expense is recorded with a debit to amort. exp and a credit to the patent.) annual depreciation rates are 7% for buildings/equipment/furniture, no salvage. (round to the nearest whole dollar.) annual amortization rates are 10% of original cost, straight-line method, no salvage. cmc owns two patents: patent #fj101 and patent #cq510. patent #cq510 was acquired on october 1, 2016. patent #fj101 was acquired on april 1, 2018 for $119,000. the last time depreciation & amortization were recorded was december 31, 2017.before adjustment: land: 348791equpment and furniture: 332989building: 876418patents 217000