1. value 25.00 polnts Harwood Company is a manufacturing firm that operates a job-order costing system. Overhead costs are applied to jobs on the basis of machine hours. At the beginning of the year, management estimated that the company would incur $230,000 in manufacturing overhead costs and work 100,000 machine hours. Required: 1. Compute the company's predetermined overhead rate (Round your answer to 2 decimal places) Predelemined overhead tate per MH 2. Assume that during the year the company works only 10 200 machine Hours and incurs the following costs in the manufacturing overhead and work in process accounts. Compute the missing amounts and show the balance in your manufacturing overhead T-account (Do not round intermediate calculations.) Work in Process 843,200 100 300 (Direct materials) (Direct labour) (Overhead) Manufacturing Overhead 25, 200 9.500 71 800 38,000 8.200 66,500 (Maintenance) (indirect materials (Indirect labour (Utilities) Insurance) (Depreciation) 3-a. Compute the mount of under or overapplied overhead for the year, and show the balance in your manufacturing overhead Taccount 3-b. Prepare a general journal entry to close out the balance in this account to cost of goods sold (if no entry is required for a particular transaction, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet