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Michael allocate (applies) overhead based on machine hours. Selected data for the most recent year follow Estimated manufactuur overhead cost Actual manufacturing overhead cost Estimated machine hours Actual machine hours $400,000 360.000 0.000 18.500 The estimates were made as of the beginning of the year, while the actual results were for the entire year. What was the amount of under or over applied overhead? $40,000 overallocated (overapplied). one of the answers provided are correct 2,000 underallocated (underapplied). in order to newer the question The estimates were made as of the beginning of the year, while the actual results were for the entire year. What was the amount of under or over applied overhead? $40,000 overallocated (overapplied). None of the answers provided are correct O $10,000 underallocated (underapplied). More information is needed in order to answer the question $40,000 underallocated (underapplied) $10,000 underallocated (underapplied)