Ravsten Company uses a job-order costing system. The company applies overhead cost to jobs on the basis of machine-hours. For the current year, the company estimated that it would work 43,000 machine-hours and incur $197,800 in manufacturing overhead cost. The following transactions occurred during the year: Raw materials requisitioned for use in production, $241,000 (80% direct and 20% indirect). The following costs were incurred for employee services: Heat, power, and water costs incurred in the factory, $52,000. Insurance costs, $17,000 (90% relates to factory operations, and 10% relates to selling and administrative activities). Advertising costs incurred, $57,000. Depreciation recorded for the year, $67,000 (85% relates to factory operations, and 15% relates to selling and administrative activities). The company used 47,000 machine-hours during the year. Goods that cost $487,000 to manufacture according to their job cost sheets were transferred to the finished goods warehouse. Sales for the year totaled $714,000. The total cost to manufacture these goods according to their job cost sheets was $482,000. Determine the underapplied or overapplied overhead for the year. Ravsten Company uses a job-order costing system. The company applies overhead cost to jobs on the basis of machine-hours. For the current year, the company estimated that it would work 43,000 machine-hours and incur $197,800 in manufacturing overhead cost. The following transactions occurred during the year: Raw materials requisitioned for use in production, $241,000 (80% direct and 20% indirect). The following costs were incurred for employee services: Heat, power, and water costs incurred in the factory, $52,000. Insurance costs, $17,000 (90% relates to factory operations, and 10% relates to selling and administrative activities). Advertising costs incurred, $57,000. Depreciation recorded for the year, $67,000 (85% relates to factory operations, and 15% relates to selling and administrative activities). The company used 47,000 machine-hours during the year. Goods that cost $487,000 to manufacture according to their job cost sheets were transferred to the finished goods warehouse. Sales for the year totaled $714,000. The total cost to manufacture these goods according to their job cost sheets was $482,000. Determine the underapplied or overapplied overhead for the year