Linzee Liners estimates that its manufacturing overhead will be $$1,764,100$ in Year $1.$ It further estimates that direct labor will amount to $$767,000.$ During March, Linzee worked on four jobs with actual direct labor costs of $$36,700$ for Job $0301,$$$24,200$ for Job $0302,$$$33,700$ for Job $0303,$ and $$17,700$ for Job $0304.$ Actual manufacturing overhead costs for the year were $$1,752,500.$ Actual direct labor costs for the year were $$752,000.$ Manufacturing overhead is applied to jobs based on direct labor costs using predetermined rates.

The amount of overhead applied in each of the inventory accounts at the end of Year $1$ is as follows.

Work$-$in$-$process inventory

Finished goods inventory

Cost of goods sold

$$34,592$

$$276,736$

$$1,418,272$

Required:

Prepare an entry to allocate the over$-$ or underapplied overhead.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Journal entry worksheet

A

Record an entry to allocate the over$-$ or underapplied overhead.

Note: Enter debits before credits.

$\backslash$table$[[$Transaction$,$General Journal,Debit,Credit$],[1,,,],[,,,],[,,,],[,,,],[,,,]]$