Randall Company manufactures products to customer specifications. A job costing system is used to accumulate production costs. Factory overhead cost was applied at 120% of direct labor cost. Selected data concerning the past year's operation of the company are presented below.

January 1December 31Direct materials$82,000$45,000Work in process71,00047,000Finished goods120,000105,000Other informationDirect materials purchases$329,000Cost of goods available for sale939,000Actual factory overhead costs265,000

The amount of underapplied or overapplied overhead is: