Company X is a manufacturer of smart phone screens. The company uses a job-order costing system. The company applies manufacturing overhead based on the number of machine hours. At the beginning of the period, Company X estimated total manufacturing overhead to be $500,000. The company also estimates total machine hours to be $80,000. During the period, the company performed one job, JOB-123. The total actual machine hours used by the job was 85,000 hours. Assume that the actual manufacturing overhead was $550,000, the manufacturing overhead status by the end of the period would be: O a. Underapplied by $18.750 b. Overapplied by $34,375 OC. Underapplied by $31.250 Od. Underapplied by $32,352 e. Overapplied by $50.000