2 66 points eBook Cambridge Manufacturing Company applies manufacturing overhead on the basis of machine hours. At the beginning of the year, the company estimated its total overhead cost to be $284,000 and machine hours to be 14,200. Actual manufacturing overhead and machine hours were $327,000 and 15,200, respectively. Required: 1. & 2. Prepare the journal entries for actual and applied manufacturing overhead and transfer of manufacturing overhead account balance to cost of goods sold. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list View journal entry worksheet Print No Transaction General Journal Debit Credit 1 Work in Process Inventory 6,540,000 eferences