Refer to the information in Exercise 7-23. Prepare an entry to allocate the under- or over-applied overhead. Overhead applied in each of the inventory accounts is as follows:

Work-in-process inventory . . . . . . . . . . . . . . $10,125
Finished goods inventory . . . . . . . . . . . . . . . . 30,375
Cost of goods sold . . . . . . . . . . . . . . . . . . . . . . 60,750