Linzee Liners estimates that its manufacturing overhead will be $1,725,000 in Year 1. It further estimates that direct labor costs will amount to $750,000. During March, Linzee worked on four jobs with actual direct labor costs of $35,000 for Job 0301, $22,500 for Job 0302, $32,000 for Job 0303, and $16,000 for Job 0304. Actual manufacturing overhead costs for the year were $1,710,000. Actual direct labor costs for the year were $735,000. Manufacturing overhead is applied to jobs based on direct labor costs using predetermined rates.

The amount of overhead applied in each of the inventory accounts at the end of Year 1 is as follows:

Work-in-process inventory	$ 33,810
Finished goods inventory	$ 270,480
Cost of goods sold	$ 1,386,210

Required:

Prepare an entry to allocate the over- or underapplied overhead.