Wimbledon Corporation uses a predetermined overhead rate based on direct labour cost to apply manufacturing overhead to jobs. Last year, the company's estimated manufacturing overhead was $1,200,000 and its estimated level of activity was 50,000 direct labour-hours. The company's direct labour wage rate is $12 per hour. Actual manufacturing overhead amounted to $1,240,000, with actual direct labour cost of $650,000. How much is overhead over-applied or under-applied, stating clearly whether it is over or under applied.