Dealing with over/Underapplied overhead The records of your company show the following information: Estimated manufacturing overhead $ 732, 757 Estimated machine hours $ 30, 507 Actual machine hours worked $ 36, 587 Actual costs incurred Indirect materials $ 137, 859 Indirect labor $ 147, 402 Utilities $ 70, 232 Insurance $ 79, 422 Rent $ 101, 984. Unadjusted account balances: Work in Process $ 786, 669 Finished Goods 554, 31 Cost of Goods Sold $ 626, 664 The amount of applied overhead is The amount of actual overhead is The amount of o or underapplied overhead is Is overhead overapplied or underapplied? If the difference is immaterial, what journal entry should you make to correct for this over/underapplication? If the difference is material what journal entry should you make to correct for this over/underapplication