Baker Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, the company based its predetermined overhead rate on total estimated overhead of $93,960 and 2,900 estimated direct labor-hours. Actual manufacturing overhead for the year amounted to $96,160 and actual direct labor-hours were 2,800. The overhead for the year was: (Round your intermediate callculations to 2 decimal places.) O $3,240 overapplied O $5,440 overapplied O $3,240 underapplied O $5,440 underapplied