Please explain the solution to this general accounting problem using the correct accounting principles.

The following cost data relate to the office overhead costs of Hamilton Accounting Services during the just-completed year: e Office rent: $32,400 Office supplies: $6,980 Utilities, office: $18,250 Salary, office manager: $62,180 e Salary, receptionist: $40,560 Depreciation-office equipment: $13,750 e Software licensing fees: $27,320 e Other miscellaneous expenses: $35,600 Total overhead costs: $237,040 The company applies overhead costs using a predetermined overhead rate of S7 per accountant hour. A total of 36,200 accountant hours was recorded for the year. Compute the amount of under- or overapplied overhead cost for the year