Before the year began, a company that applies manufacturing overhead cost to products based on machine-hours estimated they would incur a total of $1,207,000 of total manufacturing overhead costs and that 71,000 machine-hours would be used. Those estimates were used to compute the predetermined overhead rate. Actual hours and costs for the year were: Machine-hours Manufacturing overhead cost Required: 1. Determine the underapplied or overapplied overhead for the year. Complete this question by entering your answers in the tabs below. 55,000 $ 1,169,000 Req 1 Compute the underapplied or overapplied overhead.