Aspen Company estimates its manufacturing overhead to be $622,800 and its direct labor costs to be $519,000 for year 2. Aspen worked on three jobs for the year. Job 2-1, which was sold during year 2, had actual direct labor costs of $130,150. Job 2-2, which was completed, but not sold at the end of the year, had actual direct labor costs of $411,000. Job 2-3, which is still in work-in-process inventory, had actual direct labor costs of $143,850. Actual manufacturing overhead for year 2 was $807,500. Manufacturing overhead is applied on the basis of direct labor costs. Required: Prepare an entry to allocate over- or underapplied overhead Work in Process, Finished Goods and Cost of Goods Sold. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 > Record the allocation of aver- or underapplied overhead. Note: Enter debits before credits Transaction General Journal Debit Credit 1 Work-in-process inventory Finished goods inventory Cost of good sold 3,045 8,700 2.755 Record entry Clear entry View general journal