Record the entry to close underapplied or overapplied overhead to the cost of goods sold account

Marco Company shows the following costs for three jobs worked on in April. Job 307 $ 43,000 15,000 7,500 Balances on March 31 Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 Job 306 $ 27,000 24,000 12,000 138,000 103,000 ? Finished (sold) Job 308 215,000 $ 115,000 154,000 101,000 ? In process Finished (unsold) Additional Information a. Raw Materials Inventory has a March 31 balance of $82,000. b. Raw materials purchases in April are $590,000, and total factory payroll cost in April is $383,000. c. Actual overhead costs incurred in April are indirect materials, $57,000; indirect labor, $25,000; factory rent, $31,000; factory utilities, $24,000; and factory equipment depreciation, $55,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $650,000 cash in April.