During May Company had following expenditures:

indirect material used: $25,000

indirect labor: $12,000

factory utilities: $5,000

delivery vehicle insurance: $1,200

factory rent: $3,000

store rent: $18,000

Company allocate overhead based on labor hours. Predetermined MOH rate calculated as $24.50 per hour. Actual labor hours happened during May is 2,000 hours. Calculate actual and allocated overhead and adjust overhead at the end of May. Company has following balances as of May 31;

WIP Inventory: $25,000

Finished Goods: $15,000

COGS: $120,000