Speedy Shoes Inc.'s work-in-process inventory on March 1 has a balance of $28,500 representing Job No. 378. During March, $45,600 of direct materials were requisitioned for Job No. 378, and $32,800 of direct labor cost was incurred on Job No. 378. Manufacturing overhead is allocated at 140% of direct labor cost. Actual manufacturing overhead costs incurred in March amounted to $48,500. No new jobs were started during March. Job No. 378 is completed on March 25. Is manufacturing overhead overallocated or under-allocated for the month of March and by how much? A. $25,80 under-allocated B. $2,420 over-allocated C. $7,500 under-allocated D. $7,500 over-allocated

Speedy Shoes Inc.'s work-in-process inventory on March 1 has a balance of $28,500 representing Job No. 378. During March, $45,600 of direct materials were requisitioned for Job No. 378, and $32,800 of direct labor cost was incurred on Job No. 378. Manufacturing overhead is allocated at 140% of direct labor cost. Actual manufacturing overhead costs incurred in March amounted to $48,500. No new jobs were started during March. Job No. 378 is completed on March 25. Is manufacturing overhead overallocated or under-allocated for the month of March and by how much? A. $25,80 under-allocated B. $2,420 over-allocated C. $7,500 under-allocated D. $7,500 over-allocated