Cooper Industries has the following data for the current year:
| Direct Labor | $220,000 |
| Direct Material | 137,800 |
| Actual Overhead | 320,000 |
| Applied Overhead | 395,000 |
| Raw Material | 51,394 |
| Work in Process | 101,926 |
| Finished Goods | 111,192 |
| Cost of Goods Sold | 250,182 |
What is the amount of under- or overapplied overhead? Prepare the necessary journal entry to dispose of under- or overapplied overhead.
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