Southern Rim Parts estimates its manufacturing overhead to be $360,500 and its direct labor costs to be $1,030,000 for year 1. The first three jobs that Southern Rim worked on had actual direct labor costs of $62,000 for Job 301, $87,000 for Job 302, and $160,000 for Job 303. For the year, actual manufacturing overhead was $414,000 and total direct labor cost was $837,000. Manufacturing overhead is applied to jobs on the basis of direct labor 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 29, 295 87,885 175, 770 Required: Prepare an entry to prorate the under-or overapplied overhead. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.)