Southern Rum Parts estimates its manufacturing overhead to be $495,000 and its direct labor costs to be $900,000 for year. The first Sree jobs that Southem worked on had actual direct labor costs of $20,000 for Job 301, $30,000 for Job 302, and $40,000 for Job 302. For the year manufacturing overhead was $479,000 and total direct labor cost was $850.000. 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 S 37.422 Finished goods inventory 182. Se Cost of goods sold 327,250 Required Prepare an entry to procate the undercoverapplied overhead assuming the company uses both Applied Manufacturing Overhead and Manufacturing Overhead Control accounts of 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. te tres before De Becord entry Gear entry View general journal