Victryl company applies overhead based on direct labor hours. at the beginning of the year, victryl estimates overhead to be $700,000, machine hours to be 200,000, and direct labor hours to be 35,000. during february, victryl has 5,000 direct labor hours and 10,000 machine hours. if the actual overhead for february is $98,300, what is the overhead variance, and is it overapplied or underapplied?

Doogan corporation makes a product with the following standard costs: standard quantity or hours standard price or rate direct materials 2.0 grams $ 7.00 per gram direct labor 1.6 hours $ 12.00 per hour variable overhead 1.6 hours $ 6.00 per hour the company produced 5,000 units in january using 10,340 grams of direct material and 2,320 direct labor-hours. during the month, the company purchased 10,910 grams of the direct material at $7.30 per gram. the actual direct labor rate was $12.85 per hour and the actual variable overhead rate was $5.80 per hour. the company applies variable overhead on the basis of direct labor-hours. the direct materials purchases variance is computed when the materials are purchased. the materials quantity variance for january is: