Current Attempt in Progress Sheffield Corp. 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 $1400000 Actual annual overhead cost $1375000 Estimated machine hours 400000 Actual machine hours 390000 O $1365000 applied and $10000 overapplied $1365000 applied and $10000 underapplied O $1400000 applied and $10000 overapplied O $1375000 applied and neither under-nor overapplied