Worthington Company employs a job-order costing system. Before disposition of the underapplied or overapplied over head, selected year-end balances from Worthington’s accounting records were:
Cost of goods sold ..... $720,000
Raw material inventory .... 36,000
Work-in-process inventory ... 54,000
Finished goods inventory .... 90,000

Required:
If the adjusted ending balance (after proration of underapplied or overapplied overhead) of cost of goods sold is $757,500, what is the underapplied or overapplied overhead for the period?