EDITED

Reg 1 Reg 2A Req 2B Compute the amount of overhead cost that would be applied to Work in Process for the year and make the entry in your T-accounts. (a) Work in Process 840,000 103.000 (Direct materials) (Direct labor) (Overhead) (a) Manufacturing Overhead 34,000 9,300 68,000 40,000 8,300 45,000 (Maintenance) Indirect materials) (Indirect labor) (Utilities) (Insurance) (Depreciation) Balance Harwood Company uses a job-order costing system that applies overhead cost to jobs on the basis of machine-hours. The company's predetermined overhead rate of $2.30 per machine-hour was based on a cost formula that estimates $213,900 of total manufacturing overhead for an estimated activity level of 93,000 machine-hours. Required: 1. Assume that during the year the company works only 88,000 machine-hours and incurs the following costs in the Manufacturing Overhead and Work in Process accounts: Compute the amount of overhead cost that would be applied to Work in Process for the year and make the entry in your T-accounts. 2A. Compute the amount of underapplied or overapplied overhead for the year and show the balance in your Manufacturing Overhead T-account. 2B. Prepare a journal entry to close the company's underapplied or overapplied overhead to Cost of Goods Sold