4 3 points Harwood Company uses a job-order costing system that applies overhead cost to jobs on the basis of machine-hours. The company's predetermined overhead rate of $2.50 per machine-hour was based on a cost formula that estimates $240,000 of total manufacturing overhead for an estimated activity level of 96,000 machine-hours. Required: 1. Assume that during the year the company works only 91,000 machine-hours and incurs the following costs in the Manufacturing Overhead and Work in Process accounts: Compute the amount of overhead cost that would be applied to Work in Process for the year and make the entry in your T-accounts. 2A. Compute the amount of underapplied or overapplied overhead for the year and show the balance in your Manufacturing Overhead T-account. 28. Prepare a journal entry to close the company's underapplied or overapplied overheed to cost of Goods Sold. Rock Complete this question by entering your answers in the tabs below. Hint Reg 1 Reg 2A Reg 28 Print References Compute the amount of overhead cost that would be applied to Work in Process for the year and make the entry in your T-accounts Manufacturing Overhead Work in Process (Maintenance) 37.000 (Direct materials) 870,000 (Indirect materials) 9,600 (Direct labor) 105,000 (Indirect labor) 78,000 (Overhead) (a) (Utilities) 43,000 (insurance) 8.600 (Depreciation 57,000 Balance Reg 2 > 4 3 points Harwood Company uses a job-order costing system that applies overhead cost to jobs on the basis of machine-hours. The company's predetermined overhead rate of $2.50 per machine-hour was based on a cost formula that estimates $240,000 of total manufacturing overhead for an estimated activity level of 96,000 machine-hours. Required: 1. Assume that during the year the company works only 91000 machine-hours and incurs the following costs in the Manufacturing Overhead and Work in Process accounts: Compute the amount of overhead cost that would be applied to Work in Process for the year and make the entry in your T-accounts. 2A. Compute the amount of underapplied or overapplied overhead for the year and show the balance in your Manufacturing Overhead T-account. 28. Prepare a journal entry to close the company's underapplied or overapplied overhead to Cost of Goods Sold. Book Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Reg 28 PM Compute the amount of underapplied or overapplied overhead for the year and show the balance in your Manufacturing Overhead T-account from Reg 1 References manufacturing overhead 4. Reg 1 Req 2A Reg 28 3 points Prepare a journal entry to close the company's underapplied or overapplied overhead 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 eBook Journal entry worksheet