Estimates made for a production department of the Automate Company for the month of October show: Budgeted factory overhead for hours worked Estimated direct labor hours $17,360 3,100 Factory overhead is applied on the basis of direct labor hours. On October 31, the records show these account balances: Actual overhead $18,625 Factory overhead applied 19,180 Prepare the entry or entries to close out the two factory overhead account balances to set up the overapplied or underapplied factory overhead, and to close the balance in under- or overapplied factory overhead to Cost of Goods Sold.