Ernest Peat Consultants uses a job cost system and had the following activity during December:

1. There were no jobs in beginning Work in Process or Finished Goods Inventory.

2. Three jobs were started: Nos. 222, 223, and 224. Job No. 222 was completed and the customer was billed for $10,000 on account. Job No. 223 was completed and in Finished Goods Inventory awaiting billing to the client at the end of the month. Job No. 224 was still in process at month-end.

3. Direct labor costs incurred for:

	Job No. 222	200 hours @ $21/hour
	Job No. 223	300 hours @ $18/hour
	Job No. 224	120 hours @ $17/hour

Prepare journal entries to record the preceding data, as well as the transfer of underapplied or overapplied overhead to Cost of Goods Sold.