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 $302,000 and machine hours to be 15,100. Actual manufacturing overhead and machine hours were $338,000 and 16,100, respectively.

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 $302.000 and machine hours to be 15,100. Actual manufacturing overhead and machine hours were $338,000 and 16,100, respectively Required: 1. & 2. Prepare the journal entries for overhead. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Answer is not complete. No Transaction Credit General Journal Manufacturing Overhead Cash, Pavables, etc Debit 338,00D 338,000 Work in Process Inventory Manufacturing Overhead Cost of Goods Sold Manufacturing Overhead