Grinzaid Home Nursing specializes in home nursing services. It bases its overhead on the flexible budget cost function of 33,000 + (2.40 x labor hours). Normal volume is based on 12,000 labor hours. Standards call for 2 labor hours per patient visited. For the current period, the operating results were as follows: Actual labor hours worked 11,400 Patient visits 5,800 Actual variable overhead costs 28,460 Actual fixed overhead costs 31,950 What is the underapplied or overapplied overhead for the period based on patient visits?
1) 670 overapplied
2) 670 underapplied
3) 430 overapplied
4) 430 underapplied