Southern Rim Parts estimates its manufacturing overhead to be $436,000 and its direct labor costs to be $1,090,000 for year 1. The first three jobs that Southern Rim worked on had actual direct labor costs of $68,000 for Job 301, $93,000 for Job 302, and $190,000 for Job 303. For the year, actual manufacturing overhead was $384,000 and total direct labor cost was $831,000. 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	$	33,240
Finished goods inventory		66,480
Cost of goods sold		232,680

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.)

Journal entry worksheet Record the allocation of over- or underapplied overhead. Note: Enter debits before credits. Credit Transaction General Journal Applied manufacturing overhead Finished goods inventory Work-in-process inventory Cost of goods sold Manufacturing overhead control Debit 162,195 10,320 5,160 36,120 51,600 Record entry Clear entry View general journal Answer is complete but not entirely correct. Transaction Credit No | General Journal Applied manufacturing overhead Finished goods inventory Work-in-process inventory Cost of goods sold Manufacturing overhead control Debit 162,195 10,320 5,160 36,120 51,600