Southern Rim Parts estimates its manufacturing overhead to be $374,500 and its direct labor costs to be $1,070,000 for year 1. The first three jobs that Southern Rim worked on had actual direct labor costs of $66,000 for Job 301, $91,000 for Job 302. and $180,000 for Job 303. For the year, actual manufacturing overhead was $394,000 and total direct labor cost was $833,000. 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 $ 29,155 87,465 174,93e 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.) View transaction list Journal entry worksheet