prepare the journal entry to allocate close overapplied or underapplied overhead to 461015

The following information is available for Lock-Down Company, which produces special-order security products and uses a job order cost accounting system.

April 30 May 31

Inventories

Raw materials $ 39,000 $ 53,000

Goods in process 11,500 17,500

Finished goods 60,000 31,000

Activities and information for May

Raw materials purchases (paid with cash) 189,000

Factory payroll (paid with cash) 410,000

Factory overhead

Indirect materials 13,000

Indirect labor 79,000

Other overhead costs 95,000

Sales (received in cash) 1,280,000

Predetermined overhead rate based on direct labor cost 65 %

Prepare the journal entry to allocate (close) overapplied or underapplied overhead to Cost of Goods Sold. (Omit the “$” sign in your response.)

General Journal Debit Credit