Acitelli Corporation, which applies manufacturing overhead on the basis of machine-hours, has provided the following data for its most recent year of operations. Estimated manufacturing overhead $357,000 Estimated machine hours 8,500 Actual manufacturing overhead $358,000 Actual machine hours 8,560 The estimates of the manufacturing overhead and of machine-hours were made at the beginning of the year for the purpose of computing the company's predetermined overhead rate for the year. The overhead for the year was: $1,520 underapplied $2,520 overapplied $1,520 overapplied $2,520 underapplied