Debit Credit Cash $ 170, 000 Accounts receivable 75, 000 Raw materials inventory 80,000 Work in process inventory Finished goods inventory 15, 000 Prepaid rent 3, 000 Accounts payable $ 17,000 Notes payable 25 , 000 Common stock 50, 000 Retained earnings (prior year) 271, 000 Sales 373, 000 Cost of goods sold 218, 000 Factory overhead 115,000 General and administrative expenses 60,000 Totals $ 736,000 $ 736,000 These six documents must be processed to bring the accounting records up to date. Materials requisition 10: $ 10, 200 direct materials to Job 402 Materials requisition 11: $ 18, 600 direct materials to Job 404 Materials requisition 12: $ 5,600 indirect materials Labor time ticket 52: $ 36, 000 direct labor to Job 402 Labor time ticket 53: $ 23, 800 direct labor to Job 404 Labor time ticket 54: $ 8, 200 indirect labor Jobs 402 and 404 are the only jobs in process at year-end. The predetermined overhead rate Problem 15-3A (Static) Part 2 2-a. In Factory Overhead T-account, enter amounts from part 1 related to factory overhead. Determine underapplied overhead 2-b. Prepare the entry to close any over- or underapplied overhead to Cost of Goods Sold. Complete this question by entering your answers in the tabs below. Req 2A Req 2B In Factory Overhead T-account, enter amounts from part 1 related to factory overhead. Determine the am underapplied overhead. Factory Overhead Actual overhead (given) 115,000 Overhead applied Indirect labor 8,200 Indirect materials 5,600 Underapplied overhead