Sunland Company applies overhead on the basis of machine hours. Given the following data, what is the amount of overhead applied and the amount by which it is under-or overapplied for the period? Estimated annual overhead cost $1620000 Actual annual overhead cost $1575000 Estimated machine hours 480000 Actual machine hours 450000 O $1518750 applied and $56250 overapplied $1620000 applied and $56250 overapplied O $1518750 applied and $56250 underapplied $1575000 applied and neither under-nor overapplied