The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system.

	April 30		May 31
Inventories
Raw materials	$	33,000	$	42,000
Work in process		9,600		18,700
Finished goods		50,000		34,300
Activities and information for May
Raw materials purchases (paid with cash)				177,000
Factory payroll (paid with cash)				250,000
Factory overhead
Indirect materials				16,000
Indirect labor				57,500
Other overhead costs				114,000
Sales (received in cash)				1,500,000
Predetermined overhead rate based on direct labor cost				55	%

Determine whether there is over or underapplied overhead.

Factory Overhead