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 Coat 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.) View transaction list Journal entry worksheet Record the allocation of over- or underapplied overhead. Note: Enter debits before credits. Transaction General Journal 1 Debit Credit Record entry Clear entry View general Journal