The following cost data relate to the manufacturing activities of Chang Company during the just completed year: Manufacturing overhead costs incurred: Indirect materials Indirect labor Property taxes, factory Utilities, factory Depreciation, factory Insurance, factory S 15,300 133,000 8,300 73,000 152,100 10,300 Total actual manufacturing overhead costs incurred S 392,000 Other costs incurred Purchases of raw materials (both direct and indirect) Direct labor cost S 403,000 S 63,000 Inventories Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending S 20,300 S 30,300 $ 40,300 $ 70,300 The company uses a predetermined overhead rate to apply overhead cost to jobs. The rate for the year was $20 per machine-hour. A total of 20,000 machine-hours was recorded for the year. Required 1. Compute the amount of underapplied or overapplied overhead cost for the year overhead cost