The Thomlin Company forecasts that total overhead for the current year will be $ 15,000,000 and that total machine hours will be 300,000 hours. Year to date, Actual overhead is $ 16,000,000 and the actual machine hours are 330,000 hours. If the Thomlin Company uses a predetermined overhead rate based on machine hours for applying overhead, as of this point ( year to date ) the overhead is over/under applied by a. $ 1,000,000 overapplied b. $ 1,000,000 underapplied c. $ 500,000 overapplied d. $ 500,000 underapplied