Concord Company, a labor-intensive manufacturer, compiled the following data for the current period: Budgeted Manufacturing Overhead $693240 Budgeted Direct Labor Hours 200000 hours Budgeted Direct Labor Cost $318000 Budgeted Machine Hours 100000 machine hours Actual Manufacturing Overhead incurred $570000 Actual Direct Labor Hours used 150000 hours Actual Direct Labor Cost incurred $343000 Assuming that Concord Company uses direct labor cost as a cost driver, determine the amount of overapplied or underapplied overhead for the current period