Southern Rim Parts estimates its manufacturing overhead to be $416,000 and its direct labor costs to be $1,040,000 for year 1. The first three jobs that Southern Rim worked on had actual direct labor costs of $63,000 for Job 301, $88,000 for Job 302, and $165,000 for Job 303. For the year, actual manufacturing overhead was $409,000 and total direct labor cost was $836,000. Manufacturing overhead is applied to jobs on the basis of direct labor costs using predetermined rates. Overhead applied in each of the inventory accounts is as follows:Work-in-process inventory $ 33,440Finished goods inventory 83,600Cost of goods sold 217,360Required:Prepare an entry to prorate the under- or overapplied overhead. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)