During 2019. Crane Company expected Job no.59 to cost $300000 of overhead, $550000 of materials, and $200000 in labor. Crane applied overhead based on direct labor cost. Actual production required an overhead cost of $245000, $620000 in materials used, and $270000 in labor. All of the goods were completed. How much is the amount of over- or underapplied overhead? O $160000 overapplied O $55000 overapplied O $55000 underapplied O $160000 underapplied