The following Information Is available for Lock-Tite Company, which produces special-order security products and uses a Job order costing system

The following Information Is available for Lock-Tite Company, which produces special-order security products and uses a Job order costing system. 
April 30 May 31 Inventories Raw materials $47,600 S 60,000  Work in process 11,000 22,900 Finished goods 67,600 43,600 Activities and information for May Raw materials purchases (paid with cash) 218,000 Factory payroll (paid with cash) 361,000 Factory overhead Indirect materials 23,000 Indirect labor 88,000 Other overhead costs 128,000 Sales (received in cash) 1,480,000 Predetermined overhead rate based on direct labor cost 80% 
Determine whether there is over or underapplied overhead. Prepare the Journal entry to allocate (close) overapplied or underapplied overhead to Cost of Goods Sold.