Applied vs. Actual Manufacturing Overhead Sloan Manufacturing Corporation applies manufacturing overhead on the basis of 120% of direct labor cost. An analysis of the related accounts and job order cost sheet indicates that during the year total manufacturing overhead incurred was 5798,000 and that at year-end Work in Process Inventory. Finished Goods Inventory, and Cost of Goods Sold included $114,000,$76,000, and $570,000, respectively, of direct labor incurred during the current year. a. Determine the over-applied manufacturing overhead at year-end (assume it is significant). Over-applied manufacturing overheads b. Prepare a journal entry to record the disposition of the over-applied manufacturing overhead