The following cost data rolate to the manufacturing octivities of Chang Commnny during the just completod year Manufacturing overhead costs incurred Indirect materials Indirect labor Property taxes, factory Utilities, factory Depreciation, Insurance, factory $ 15,600 136,000 8,600 76,000 250,700 10,600 Total actual manufacturing overhead costs incurred $ 497,500 Other costs incurred: , Purchases of raw materials (both direct and indirect) S 406,000 $ 66,000 Direct labor cost Inventories: Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending $ 20,600 S 30,600 $ 40,600 $ 70,600 The company uses a predetermined overhead rate to apply overhead cost to jobs. The rate for the year was $25 per machine-hour. A total of 20,300 machine-hours was recorded for the year Required: 1. Compute the amount of underapplied or overapplied overhead cost for the year. thead cost