Antoine Machining estimated its manufacturing overhead to be $$298,840$ and its direct materials costs to be $$482,000$ in Year $1.$ Three of the jobs that Antoine Machining worked on in Year $1$ had actual direct materials costs of $$19,800$ for Job AM$002,$ $$72,600$ for Job AM$005,$ and $$92,400$ for Job AM$008.$ For Year $1,$ actual manufacturing overhead was $$316,200$ and total direct materials cost was $$700,000.$ Manufacturing overhead is applied to jobs on the basis of direct materials costs using predetermined rates.

Overhead applied in each of the inventory accounts is as follows:

Work$-$in$-$process inventory $ $26,040$

Finished goods inventory $82,460$

Cost of goods sold $325,500$

Required:

Prepare an entry to allocate the under$-$ or overapplied overhead.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.