The following information relates to Araceli Manufacturing Company:
- total estimated maunufacturing overhead cost at beginning of year $864,000
- predetermined overhead rate (based on machine hours) $7.20 per hour
- total manufacturing cost incurred during the year $885,000
- total machine hours incurred during the year 118,000 hour
- What was Araceli's underapplied or overapplied overhead for last year?