Bonnies Corporation applies overhead at the rate of 70% of direct labor. It incurred $450,000 of direct labor during the current year. Miller incurred actual overhead of $367,000. (a.) Compute the amount of over- or underapplied overhead for Bonnies Corp. for the current year (b.) Prepare the necessary journal entry to dispose of the under- or overapplied overhead (assuming that the amount is immaterial)