The following information pertains to Trenton Glass Works for the year just ended. Budgeted direct-labor cost: 70,000 hours (practical capacity) at $16 per hour Actual direct-labor cost: 80,000 hours at $17.50 per hour Budgeted manufacturing overhead: $997,500 Actual selling and administrative expenses: 434,000

Actual manufacturing overhead:
Depreciation	$	234,000
Property taxes		23,000
Indirect labor		81,000
Supervisory salaries		202,000
Utilities		57,000
Insurance		33,000
Rental of space		301,000
Indirect material (see data below)		79,000
Indirect material:
Beginning inventory, January 1		48,000
Purchases during the year		94,000
Ending inventory, December 31		63,000

2. Calculate the overapplied or underapplied overhead for the year. (Round your intermediate calculations to 2 decimal places.)