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	$	29,155
Finished goods inventory		87,465
Cost of goods sold		174,930

Required:

Prepare an entry to prorate the under- or overapplied overhead assuming the company uses both Applied Manufacturing Overhead and Manufacturing Overhead Control accounts. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)