Boyce Industries has the following data for the current year:

Direct Labor	$220,000
Direct Material	137,800
Actual Overhead	320,000
Applied Overhead	395,000
Raw Material	51,394
Work in Process	101,926
Finished Goods	111,192
Cost of Goods Sold	250,182

What is the amount of under- or overapplied overhead? Prepare the necessary journal entry to dispose of under- or overapplied overhead.