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Bonita Industries applies overhead on the basis of machine hours. Given the following data, compute...

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Accounting

Bonita 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 cost $1700000
Actual annual overhead cost $1675000
Estimated machine hours 500000
Actual machine hours 490000

$1666000 applied and $9000 underapplied

$1675000 applied and neither under-nor overapplied

$1666000 applied and $9000 overapplied

$1700000 applied and $9000 overapplied

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