Concord Corporation applies overhead on the basis of machine hours. Given the following data, compute overhead applied and the under- or overapplication of overhead for the period:

Estimated annual overhead cost	$ 3600000
Actual annual overhead cost	$ 3570000
Estimated machine hours	400000
Actual machine hours	395000

$ 3555000 applied and $ 15000 underapplied

$ 3570000 applied and neither under- nor overapplied

$ 3600000 applied and $ 15000 overapplied

$ 3555000 applied and $ 15000 overapplied