One Company uses a normal, traditional (functional) cost system and applies overhead to production based on machine hours. The accounting system provided the following information. Estimated overhead cost $150,000 Actual overhead cost $140,000 Estimated machine hours 20,000 hours Actual machine hours 25,000 hours Calculate the overhead variance for the period. O $10,000 overapplied $10,000 underapplied $47,500 overapplied $37,500 overapplied