Check my work 5 Exercise 3-4 (Algo) Underapplied and Overapplied Overhead [LO3-4] 10 Osborn Manufacturing uses a predetermined overhead rate of $18.90 per direct labor-hour. This predetermined rate was points based on a cost formula that estimates $240,030 of total manufacturing overhead for an estimated activity level of 12,700 direct labor-hours. eBook The company actually incurred $237,000 of manufacturing overhead and 12,200 direct labor-hours during the period. Hint Required: Print 1. Determine the amount of underapplied or overapplied manufacturing overhead for the period. 2. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold. Would the journal References entry to dispose of the underapplied or overapplied overhead increase or decrease the company's gross margin? By how much? 1. Manufacturing overhead by 2. The gross margin would byCheck my work 6 Exercise 3-4 (Static) Underapplied and Overapplied Overhead [LO3-4] 10 Osborn Manufacturing uses a predetermined overhead rate of $18.20 per direct labor-hour. This predetermined rate was points based on a cost formula that estimates $218,400 of total manufacturing overhead for an estimated activity level of 12,000 direct labor-hours. eBook The company actually incurred $215,000 of manufacturing overhead and 11,500 direct labor-hours during the period. Hint Required: Print 1. Determine the amount of underapplied or overapplied manufacturing overhead for the period. 2. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold. Would the journal References entry to dispose of the underapplied or overapplied overhead increase or decrease the company's gross margin? By how much? 1. Manufacturing overhead by 2. The gross margin would by