The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system.

	April 30				May 31
Inventories
Raw materials	$	49,500			$	65,000
Work in process		11,500				23,900
Finished goods		69,500				48,600
Activities and information for May
Raw materials purchases (paid with cash)						223,000
Factory payroll (paid with cash)						371,000
Factory overhead
Indirect materials						28,000
Indirect labor						93,000
Other overhead costs						133,000
Sales (received in cash)						1,530,000
Predetermined overhead rate based on direct labor cost						80	%

Determine whether there is over or underapplied overhead. Prepare the journal entry to allocate (close) overapplied or underapplied overhead to Cost of Goods Sold.