Exercise 1-Job Order Costing (20 Points) The Winston Company estimates that the factory overhead for the following year wilh bed machine hours, 000. The company has decided that the basis for applying factory which is estimated to be 50,000 hours. The total machine 300. The actual factory overhead for the year were $1,348,800. ov erheadforours. Te foraactory overhead should be e the total factory overhead amount applied te the over- or underapplied amount for the year. re the journal entry to close Factory Overhead into (a) Determine (c) Prepa Cost of Goods Sold