A company applies overhead at a rate of 200% of direct labor cost. Actual overhead cost for the current period is $1,291,100, and direct labor cost is $636,000. 1. Compute the under- or overapplied overhead. 2. Prepare the journal entry to close over- or underapplied overhead to Cost of Goods Sold. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the under- or overapplied overhead. Factory Overhead Actual overhead 1,291,100 1,291,100 Actual overhead Actual overhead 636,000 Underapplied overhead 636,000 Overapplied overhead 636,000