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Racer produces high-end running shoes and uses a job costing system with normal costing. The...

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Accounting

Racer produces high-end running shoes and uses a job costing system with normal costing. The company applies overhead based on direct labor hours and deems under- or overapplied overhead to be material in amount. Budgeted and actual amounts for the year are:
\table[[,Manufacturing Overhead,Direct Labor Cost,Direct Labor Hours],[Budgeted amounts,$129,720,$117,500,9,400],[Actual costs incurred,131,520,116,160,9,600]]
What is the balance in Racer's Manufacturing Overhead Control account prior to closing it at year-end?
$1,800 overapplied
$960 overapplied
$3,279 underapplied
$2,740 underapplied
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