A manufacturing company applies overhead based on direct labor hours. At the beginning of the year, it was estimated that overhead costs would be $450,000 and direct labor hours would be 90,000. Actual overhead costs incurred were $459,000 and actual direct labor hours were 95,000. What is the amount of overapplied or underapplied overhead at the end of the year?
A. $16,000 overapplied
B. $16,000 underapplied
C. $9,000 overapplied
D. $9,000 underapplied
