Monrovia Bike Corporation manufactures two models of bicycles: Monrovia Bike Corporation manufactures two models of bicycles: the "Gully Runner" and the "Claim Jumper." In the past, Monrovia had been using a traditional overhead allocation system based on machine hours. Monrovia has decided to switch to an activity-based costing system using two activity cost pools. Information related to the new system is as follows: activity estimated overhead cost estimated activity Automated assembly $189,000 $ 7,000 machine hours parts management $63,000 $ 100 part numbers actual activity for the year for the two models of bicycles were as follow: bicycle machine part produced hours used numbers used Claim jumper 300 2400 70 Gully Runner 960 4800 30 questiono ! 1.) If Monrovia's actual overhead cost was $285,400, what would total under- or overapplied overhead be for the year under the new activity-based costing system