Nick Corp. allocates overhead to production on the basis of direct labor costs. At the beginning of the year, Nick estimated total overhead costs of $396,000 and direct labor costs of $220,000. During the year, Nick incurred $418,000 in direct materials costs, $224,000 in direct labor costs, and $413,200 in overhead costs. Compute the amount of under-or over-applied overhead for the year. 5.4,800 under-applied 517,200 under-applied 510.000 over-applied $17.200 over-applied $10,000 under-applied