Yarra Fabrication estimates that its manufacturing overhead will be $2,240,000 in year 1. It further estimates that direct material costs will amount to $1,400,000. During July, Yarra worked on four jobs with actual direct materials costs of $60,000 for Job 0701, $40,000 for Job 0702, $55,000 for Job 0703, and $35,000 for Job 0704. Actual manufacturing overhead costs for the year were $2,400,000. Actual direct materials costs were $1,550,000. Manufacturing overhead is applied to jobs based direct materials cost using predetermined rates. Overhead applied in each of the Inventory accounts is as follows. Work-in-process inventory Finished goods inventory Cost of goods sold $ 451,080 $1,066,000 $6,683,eee Required: Prepare an entry to allocate the over- or underapplied overhead. (If no entry is required for a transaction/event, select "No Journal entry required" In the first account field.) Answer is not complete. No Transaction Credit General Journal Applied manufacturing overhead Work-in-process inventory Debit 180.000 160.000