1 In 2012, the Cameratta Company used a predetermined manufacturing overhead rate of $4.75 per machine hour. Information for the year is as follows: Actual overhead costs incurred: Plant utilities and insurance $9,530 Other plant overhead costs $12,700 Total machine hours used during the year 7,520 Requirements: 1. What was the preliminary ending balance in the manufacturing overhead account before the yearend adjustment to clear the balance to zero? 2. Journalize the year-end adjustment to clear the balance to zero? Close overhead to WIP, finished goods and COGS. Ending Balances of related accounts are given below: WIP 20,000\$ Finished Goods 30,000\$ cogs40.000$