Exercise 7-33 (Algo) Prorate Under- or Overapplied Overhead (LO 7-3) Antoine Machining estimated its manufacturing overhead to be $287,680 and its direct materials costs to be $464,000 in Year 1. Three of the jobs that Antoine Machining worked on in Year 1 had actual direct materials costs of $17,100 for Job AM002, $62,700 for Job AM005, and $79,800 for, Job AM008, For Year 1, actual manufacturing overhead was $314,400 and total direct materials cost was $610,000. 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: Work-in-process inventory Finished goods inventory Cost of goods sold Required: $ 22,692 71,858 283,650 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 first account field. View transaction list A Record the allocation of over- or underapplied overhead. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Record entry Clear entry View general journal