A company's Factory Overhead account shows total debits of $675,000 and total credits of $698,700 at the end of the yea 1. Compute the under- or overapplied overhead. 2. Prepare the journal entry to close the balance in the Factory Overhead account 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 1 Required 2 > Journal entry worksheet