Berry Company applies overhead on the basis of direct labor hours. Given the following data, calculate overhead applied and the under-or over-application of overhead for the period: Estimated annual overhead cost $450,000 Actual annual overhead cost $445,000 Estimated direct labor hours 90,000 Actual direct labor hours 88,000 O a $440,000 applied and $5,000 over-applied O b. 440,000 applied and $5,000 under-applied OC 6436,000 applied and $15,000 over-applied Od $435,000 applied and neither under-nor over-applied