What does the amount of overapplied overhead mean

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A company assigned overhead to work in process. At year end, what does the amount of overapplied overhead mean?

The overhead assigned to work in process is greater than the estimated overhead costs.

The overhead assigned to work in process is less than the estimated overhead costs.

The overhead assigned to work in process is less than the actual overhead.

The overhead assigned to work in process is greater than the overhead incurred.

Reference no: EM131221097

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