15.00 points The following cost data relate to the manufacturing activities of Black Company during the ust completed year: Manufacturing overhead costs incurred: Property taxes factory 3,000 Utilities, factory 5.000 Indirect labor 10,000 Depreciation, factory 24,000 Insurance, factory 6,000 Total actual manufacturing overhead costs $48.000 Other costs incurred: Purchases of raw materials $32,000 Direct labor oost SA0,000 Raw materials, beginning 8,000 Raw materials, ending 7,000 Work in process beginning 6,000 Work in process, ending 7,500 The company uses a predetermined overhead rate to apply overhead cost to jobs. The rate for the year was per machine-hour a total of 10,000 machine-hours was recorded for the year. Al raw materials ultimately become direct materials-none are classified as indirect materials. Required: the amount of underapplied or overapplied overhead cost for the year