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Required information

$[$The following information applies to the questions displayed below.$]$

The following information pertains to Trenton Glass Works for the year just ended.

Budgeted direct$-$labor cost: $70,000$ hours $($practical capacity$)$ at $$16$ per hour

Actual direct$-$labor cost: $80,000$ hours at $$17\mathrm{.}50$ per hour

Budgeted manufacturing overhead: $$997,500$

Actual selling and administrative expenses: $433,000$

Calculate the overapplied or underapplied overhead for the year. $($Round your intermediate calculations to $2$ decimal places.$)$