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 45,000 machine-hours and incur $211,500 in manufacturing overhead cost. The following transactions occurred during the year: a. Raw materials requisitioned for use in production, $243,000 (70% direct and 30% indirect). b. The following costs were incurred for employee services Direct labor Indirect labor Sales commissions Administrative salaries S 169,000 $ 27,000 $ 19,000 $ 34,000 c. Heat, power, and water costs incurred in the factory, $50,000 d. Insurance costs, $19,000 (80% relates to factory operations, and 20% relates to selling and administrative activities). e. Advertising costs incurred, $59,000 f. Depreciation recorded for the year, $69,000 (75% relates to factory operations, and 25% relates to selling and administrative activities). g. The company used 49,000 machine-hours during the year h. Goods that cost $489,000 to manufacture according to their job cost sheets were transferred to the finished goods warehouse i. Sales for the year totaled $718,000. The total cost to manufacture these goods according to their job cost sheets was $484,000 Required 1. Determine the underapplied or overapplied overhead for the year. (Round predetermined overhead rate to 2 decimal places.)