A company has the following budget and actual cost information Budgeted Machine Hours 10,000 Budgeted Overhead Cost $50,000 Actual Machine Hours 10,500 Actual Overhead Cost $48,000 If the company uses normal costing, by how much was manufacturing overhead over/under applied? $2,000 overapplied $4,500 overapplied $4,500 underapplied $2,000 underapplied