A business allocates its fixed overheads on the basis of direct labour hours. The information below is given. overheads: actual $600000$, budgeted $508000$ labour hours: actual $14300$, budgeted $12700$ Which statement is correct?
- AOverheads were over absorbed by $28000.
- BOverheads were under absorbed by $28000.
- COverheads were over absorbed by $92000.
- DOverheads were under absorbed by $92000.