Marigold Corp. 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 $3500000 Actual annual overhead cost $3470000 Estimated machine hours Actual machine hours 400000 395000 O $3456250 applied and $13750 underapplied $3500000 applied and $13750 overapplied O $3456250 applied and $13750 overapplied $3470000 applied and neither under-nor overapplied