Yarra Fabrication estimates that its manufacturing overhead will be $2,342,400 in year 1. It further estimates that direct material costs will amount to $1,464,000. During July, Yarra worked on four jobs with actual direct materials costs of $76,000 for Job 0701, $104,000 for Job 0702, $135,000 for Job 0703, and $67,000 for Job 0704. Actual manufacturing overhead costs for the year were $2,480,000. Actual direct materials costs were $1,630,000. 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 S495,000 S1, 170,000 37,335,000 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.) View transaction list Journal entry worksheet Record an entry to allocate the over- or underapplied overhead. Note: Enter debits before credits. Transaction Debit Credit General Journal Applied manufacturing overhead Work-in-process inventory Finished goods inventory Cost of goods sold Record entry Clear entry View general journal