A company allocates overhead at a rate of 155% of direct labor cost. Actual overhead cost for the current period is $990,000, and direct labor cost is $560,000 Determine whether there is over- or underapplied overhead using the account below. Factory Overhead birect labor cost Prepare the entry to close over- or underapplied overhead to cost of goods sold. View transaction list Journal entry worksheet 1 Record the entry to close over- or underapplied overhead. Note: Enter debits before credits. General Journal Debit Credit Transaction 1 Record entry Clear entry View general journal Required information Use the following information for the Quick Study below. [The following information applies to the questions displayed below) The following refers to units processed in Sunflower Printing's binding department in March Beginning work in process Goods started Goods completed Ending work in process Units of Percent of Product Conversion 156,000 BON 325,000 100 355,000 100 126,000 40 QS 16-5 Weighted average: Computing equivalent units of production LO C2 Compute the total equivalent units of production with respect to conversion for March using the weighted-wverage method. EUP Equivalent units of production (EUP) with respect to conversion - weighted average method Conversion Units st Total