job-order costing Madison Manufacturing produces pool and other types of game tables. The company uses a system and applies manufacturing overhead cost to products on the basis of machine-hours. The predetermined overhead rate was based on a cost formula that estimates $980,000 of total manufacturing overhead for an estimated activity level of 98,000 machine-hours. During the year, a large quantity of pool and poker tables and tables on the market resulted in cutting back production and a buildup of tables in the company's warehouse. The company's cost records revealed the following actual machine hours and manufacturing overhead cost for the year: Machine-hours 78,000 Manufacturing overhead cost 941,000 Required: 1. Compute the underapplied or overapplied overhead. Complete this question by entering your answers in the tabs below. Req 1 Compute the underapplied or overapplied overhead