Bread, Inc. uses a normal costing system with a predetermined overhead rate based on machine hours. At the beginning of the year, the company estimated manufacturing overhead for the year would be $240.000 and machine hours used would be 16,000. The following information pertains to December of the current year: Job #1 Job #2 Job #3 Work in Progress 12/1/2020 $16,000 $26,000 $38,000 December Production Activity Direct Materials Used $4,000 $7,200 $4,800 $3,700 Direct Labor Cost $2,500 $4,100 Machine Hours 800 1400 1800 Actual manufacturing overhead costs incurred in December were $29,000. Each job was completed at the end of December Determine the amount of over-applied or under-applied overhead [In the next question, you will answer whether the amount is over- or under-applied.]