A company applies overhead at a rate of 170% of direct labor cost. Actual overhead cost for the current period is $1,112,900, and direct labor cost is $645,000. 1. Compute the under- or overapplied overhead. 2. Prepare the journal entry to close over- or underapplied overhead to Cost of Goods Sold Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the under- or overapplied overhead. Factory Overhead Required Required 2 > A company applies overhead at a rate of 170% of direct labor cost. Actual overhead cost for the current period is $1,112,900, and direct labor cost is $645,000. 1. Compute the under- or overapplied overhead. 2. Prepare the journal entry to close over- or underapplied overhead to Cost of Goods Sold Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entry to close over- or underapplied overhead to cost of Goods Sold. View transaction list Journal entry worksheet