Accounting: Job order cost accounting.

In December 2012, Cardozo Company established its predetermined overhead rate for jobs produced during year 2013 by using the following cost predictions overhead costs $750,000.and direct labor costs $625,000. At year end 2013, the company's records show that actual overhead costs for the year are $830,000. Actual direct labor cost had been assigned to jobs as follows.

Jobs completed and sold.......... $513,750

jobs in finished goods inventory ......$102,750

jobs in goods in process inventory...... $68500

Total actual direct labor cost...............$685,000

1. Prepare the adjusting entry to allocate any over_ or underapplied overhead to cost of goods sold.