The following cost data relate to the manufacturing activities of Crystal Corporation during the past year Manufacturing overhead costs incurred: Indirect materials Indirect labour Property taxes, factory Utilities, factory Depreciation, factory Insurance, factory Total actual costs incurred Other costs incurred: Direct labour cost Inventories Raw materials, beginning Purchases of raw materials (both direct and indirect) Raw materials, ending work in process, beginning Work in process, ending $ 37,000 18,500 25,900 148,000 259,000 14,800 $ 503,200 5309,000 61,800 s 33,000 46,000 56,000 89,000 The company uses a predetermined overhead rate to apply overhead cost to production. The rate for the year was $26 per machine- hour. A total of 20.000 machine-hours were recorded for the year. Required: 1. Compute the amount of under- or overapplied overhead cost for the year overhead cost