April 30 May 31 $ $53,000 12,200 73,000 72,000 25,300 55,600 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined overhead rate based on direct labor cost 230,000 385,000 35, cee 100,000 148,eee 1,600,000 sex Requirement 1: Determine whether there is over or underapplied overhead for Howard Co.'s productions, Requirement 2: Prepare the journal entry to allocate (e.g.close) overapplied or underapplied overhead to Cost of Goods Sold. Complete this question by entering your answers in the tabs below. Overhead Absorption General Journal Determine whether there is over or underapplied overhead. Factory Overhead De Apoon General Journal > View transaction list Journal entry worksheet A Record entry to allocate (close) underapplied/overapplied overhead to cost of goods sold. Note: Enter debits before credits Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal