Taylor Corp After Adjusting for the Amount of Over or Underapplied Overhead

Taylor Corp. uses a job order costing system and worked only on Job 101 during the current period. Job 101 was sold for $460,000. The following information pertains to costs incurred for Job 101.
$$\begin{array} { |l | l |} \hline\text { Direct Materials } & \$ 90,000 \\\hline \text { Indirect Materials } & \$ 30,000 \\\hline \text { Direct Labor } & \$ 130,000 \\\hline \text { Indirect Labor } & \$ 75,000 \\\hline \text { Depreciation of Machinery } & \$ 10,000 \\\hline \text { Factory Supplies } & \$ 8,000 \\\hline \text { Overhead Application Rate } & 90 \% \text { of direct labor } \\\hline\end{array}$$ After adjusting for the amount of over or underapplied overhead, determine the amount of gross profit earned on Job 101.