Southern Rim Parts estimates its manufacturing overhead to be $346,500 and its direct labor costs to be $990,000 for year 1. The first three jobs that Southern Rim worked on had actual direct labor costs of $58,000 for Job 301, $83,000 for Job 302, and $140,000 for Job 303. For the year, actual manufacturing overhead was $434,000 and total direct labor cost was $841,000. Manufacturing overhead is applied to jobs on the basis of direct labor costs using predetermined rates.
Required:
a. How much overhead was assigned to each of the three jobs, 301, 302, and 30?
b. What was the over- or underapplied manufacturing overhead for year 1?