Tomek Company uses a job costing system that applies factory overhead on the basis of direct labor hours. The companys factory overhead budget for the current year included the following estimates:

Budgeted total factory overhead	$	816,000
Budgeted total direct labor hours		51,000

At the end of the year, the company shows these results:

Actual factory overhead	$	832,350
Actual direct labor hours		51,500

Required:

1.	Compute the firms predetermined factory overhead rate for the current year.

2.	Calculate the amount of overapplied or underapplied overhead.

3.	Prepare a journal entry to transfer the underapplied or overapplied overhead to the Cost of Goods Sold account. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)