Coronado Industries applies overhead on the basis of machine hours. Given the following data, compute overhead applied and the under-or overapplication of overhead for the period: Estimated annual overhead $2600000 cost Actual annual overhead cost $2570000 Estimated machine hours 200000 Actual machine hours 195000 $2570000 applied and neither under-nor overapplied O $2535000 applied and $35000 overapplied $2600000 applied and $35000 overapplied $2535000 applied and $35000 underapplied