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 41,000 machine-hours and incur $184,500 in manufacturing overhead cost. The following transactions occurred during the year: Raw materials requisitioned for use in production, $195,000 (70% direct and 30% indirect b. The following costs were incurred for employee services: S 165,000 s 23,000 S 15,000 S 30,000 Direct labor Indirect labor ales commissions Administrative salaries c. Heat, power, and water costs incurred in the factory, $47,000. d. Insurance costs, $15,000 (80% relates to factory operations, and 20% relates to selling and administrative activities. e. Advertising costs incurred, $55,000 . Depreciation recorded for the year, $65,000 (75% relates to factory operations, and 25% relates to selling and administrative activities). g. The company used 45,000 machine-hours during the year h. Goods that cost $485,000 to manufacture according to their job cost sheets were transferred to the finished goods warehouse I. Sales for the year totaled $710,000. The total cost to manufacture these goods according to their job cost sheets was $480,000 Required: 1 Determine the underapplied or overapplied overhead for the year. (Round predetermined overhead rate to 2 decimal places.)