Sheffield Corp. applies overhead on the basis of machine hours. Given the following data, compute overhead applied and the under-or overapplication of overhead for the period: Estimated annual overhead cost Actual annual overhead cost Estimated machine hours Actual machine hours $4300000 $4270000 200000 195000 O $4270000 applied and neither under- nor overapplied O $4300000 applied and $77500 overapplied O $4192500 applied and $77500 overapplied $4192500 applied and $77500 underapplied

Sheffield Corp. applies overhead on the basis of machine hours. Given the following data, compute overhead applied and the under-or overapplication of overhead for the period: $4270000 applied and neither under- nor overapplied $4300000 applied and $77500 overapplied $4192500 applied and $77500 overapplied $4192500 applied and \$77500 underapplied