Yarra Fabrication estimates that its manufacturing overhead will be $2,310,400 in year 1 . It further estimates that direct material costs will amount to $1,444,000. Actual manufacturing overhead costs for the year were $2,455,000. Actual direct materials costs were $1,605,000. Manufacturing overhead is applied to jobs based on direct materials cost using predetermined rates. The total applied overhead for the year was $2,568,000 The balance in each of the inventory accounts is as follows. 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.)