Vaughn Manufacturing applies overhead on the basis of machine hours. Given the following data, what is the amount of overhead applied and the amount by which it is under-or overapplication for the period? $1730000 applied and $1210000 overapplied $1730000 applied and $1210000 underapplied $3460000 applied and $1210000 overapplied $2940000 applied and neither under-nor overapplied