A company's Factory Overhead account shows total debits of $681,000 and total credits of $704,900 at the end of the year. 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 2 > diz Saved Saved Required 1 Required 2 Prepare the journal entry to close the balance in the Factory Overhead account to Cost of Goods Sold. View transaction list Journal entry worksheet