Eco Household Products Manufacturing, Inc. Manufacturing Overhead Report For the year ended Dec. 31, 2021 Computation of Predetermined Overhead Rate (POHR): Predetermined overhead rate: per machine-hour Computation of Underapplied or Overapplied Manufacturing Overhead: Actual total manufacturing overhead cost: Total manufacturing overhead applied to Work in Process during the year: Amount of underapplied (or overapplied) manufacturing overhead 100 Was overhead underapplied or overapplied? Assume the company closes any balance in the Manufacturing Overhead account to Cost of Goods Sold. What journal entry should be made to close the Manufacturing Overhead account? TYPE IN ACCOUNT TITLES. Note: "Correct" indicator only applies to the AMOUNT, not the accounts. See Chapter 3 PowerPoint slide 44. This company applies manufacturing overhead on the basis of machine-hours. Below is information for the most recently completed year of operations. Eco Household Products Manufacturing, Inc. Estimated total manufacturing overhead cost Estimated total number of machine-hours to be worked $ 250,000 40,000 Actual total manufacturing overhead cost Actual total machine-hours worked $ 251,000 40,400