record the entry to close over- or underapplied overhead to cost of goods sold

A company allocates overhead at a rate of 160% of direct labor cost. Actual overhead cost for the current period is $950,000. and direct labor cost is $580,000. Determine whether there is over- or underapplied overhead using the T-account below. Factory Overhead Prepare the entry to close over-or underapplied overhead to cost of goods sold