CoursHeroTranscribedText: Antoine Machining estimated its manufacturing overhead to be $279,000 and its direct materials costs to be $450,000 in Year 1. Three of thejobs that Antoine Machining worked on in Year1 had actual direct materials costs of $15,000 for Job AM002, $55,000 for Job AM005, and $70,000 for Job AM008. For Year 1, actual manufacturing overhead was $313,000 and total direct materials cost was $540,000. 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: Workinprocess inventory $ 20,088 Finished goods inventory 63.612 Cost of goods sold 251,100 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 rst account eld. 6 Answer is not complete. Manufacturing Overhead Applied I M p o on on 9 Finished Goods Inventory Cost of Goods Sold Work-in-Process Inventory