Check my work 00 8 4 points Yarro Fabrication estimates that its manufacturing overhead will be $2,342,400 in year 1. It further estimates that direct material costs will amount to $1,464,000. Actual manufacturing overhead costs for the year were $2,480,000. Actual direct materials costs were $1.630,000. Manufacturing overhead is applied to jobs based on direct materials cost using predetermined rates. The total applied overhead for the year was $2,608,000 The balance in each of the inventory accounts is as follows. Skipped BOOK Work-in-process inventory Finished goods inventory Cost of goods sold $495,000 $1,170,000 57,335,000 Required: Prepare an entry to allocate the over- or underapplied overhead. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)