Austin Company uses a job order cost accounting system. The company's executives estimated that direct labor would be $4,500,000 (450,000 hours at $10/hour) and that factory overhead would be $3,000,000 for the current period. At the end of the period, the records show that there had been 230,000 hours of direct labor and $2,400,000 of actual overhead costs. Using direct labor hours as the allocation base, calculate the underapplied or overapplied overhead for the period.