I need assistance with the journal entry and balance sheet, if its over/underapplied, making the adjusting entry. Thanks. Attached is the problem.

Problem 4-30 Maverick Wings, Inc. manufactures airplanes for use in stunt shows. Maverick's factory is highly automated, using the latest in robotic technology. To keep costs low, the company employs as few factory workers as possible. Since each plane has different features (such as its shape, weight, and color), Maverick uses a job order costing system to accumulate product costs. At the end of 2013, Maverick's accountants developed the following expectations for 2014 based on the marketing department's sales forecast: Budgeted overhead cost Estimated machine hours Estimated direct labor hours Estimated direct materials cost $1,079,000 44,000 9,000 $1,520,000 Maverick's inventory count, completed on December 31, 2013, revealed the following ending inventory balances: Raw Materials Inventory Work in Process Inventory Finished Goods Inventory $250,000 $625,000 $1,240,000 The company's 2014 payroll data revealed the following actual payroll costs for the year: Job Title President and CEO Vice president and CFO Factory manager Assistant factory manager Machine operator Security guard, factory Materials handler Corporate secretary Janitor, factory Number Employe d 1 1 1 Wage per Hour 1 5 2 2 1 2 The following information was taken from Maverick's Schedule of Plant Assets. All assets are depreciated using the straightline method. Plant Asset Factory building Purchase Price $4,000,000 Salvage Question Attempts: 0 of 2 used SAVE FOR LATER SUBMIT ANSWER 24.52 Salaries and W 441,800 Salaries Payab Manufacturing 441,800 112300 Wages Payab Work in Proce Wages Payab 112300 163,125 163,125