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	$ 1700000
Actual annual overhead cost	$ 1675000
Estimated machine hours	200000
Actual machine hours	190000

$ 1615000 applied and $ 60000 overapplied

$ 1675000 applied and neither under-nor overapplied

$ 1700000 applied and $ 60000 overapplied

$ 1615000 applied and $ 60000 underapplied