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 $ 16,800 148,000 9,800 88,000 295,300 11,800 Total actual manufacturing overhead costs incurred $ 569,700 Other costs incurred Purchases of raw materials (both direct and indirect) Direct labor cost $418,000 $ 78,000 Inventories Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending $ 21,800 $ 31,800 $ 41,800 $ 71,800 The company uses a predetermined overhead rate to apply overhead cost to jobs. The rate for the year was $27 per machine-hour. A total of 21,500 machine-hours was recorded for the year. Required 1. Compute the amount of underapplied or overapplied overhead cost for the year overhead cost