Exercise 7-33 (Algo) Prorate Under- or Overapplied Overhead (LO 7-3) Antoine Machining estimated its manufacturing overhead to be $286,440 and its direct materials costs to be $462,000 in Year 1. Three of the jobs that Antoine Machining worked on in Year 1 had actual direct materials costs of $16,800 for Job AM002, $61,600 for Job AM005, and $78,400 for Job AM008. For Year 1, actual manufacturing overhead was $314,200 and total direct materials cost was $600,000. 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: 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 $ 22,320 70,680 279,000 Journal entry worksheet

Exercise 7.33 (Algo) Prorate Under- or Overapplied Overhead (LO 7.3) Antoine Machining estimated its manufecturing overhevd to be 3286.440 and its diect material5 costs to be 5462.000 in Year 1 . Three of the jobs that Antoine Machining worked on in Yeor 1 hod actuol direct materials costs of $16,800 for Job A Moo2. $61600 for Job AM005, and $78,400 for Job AMO08. For Year 1, actual manufacturifg overhead was 5314,200 and total direct materials cost was 5600,000 . Manufacturing overthead is applied to jobs on the basis of direct materlals costs using predetermined rates. Overhead applied in each of the imventory accounts is as follows: Required: Prepare an entry to alocate the uncer- or overapplied overbeod Note: If ho entry is required for a transactienlevent, select "No joumal entry required" in the first account field