Cambridge Manufacturing Company applies manufacturing overhead on the basis of machine hours. At the beginning of the year, the company estimated its total overhead cost to be $320,000 and machine hours to be 16,000. Actual manufacturing overhead and machine hours were $351,000 and 17,000, respectively. Required: 1. & 2. Prepare the journal entries for actual and applied manufacturing overhead and transfer of manufacturing overhead account balance to cost of goods sold. Note: If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. View tranzaction list Journal entry worksheet 1 2 Record the actual manufacturing overhead cost incurred. Note: Enter debits before credits. Transaction General Journal Debit Credit