Harwood Company is a manufacturing firm that operates a job-order costing system. Overhead costs are applied to jobs on the basis of machine-hours. At the beginning of the year, management estimated that the company would incur $230,000 in manufacturing overhead costs and work 100,000 machine-hours. Required: 1. Compute the company's predetermined overhead rate. (Round your answer to 2 decimal places.) Predetermined overhead rate per MH 2. Assume that during the year the company works only 89,900 machine-hours and incurs the following costs in the manufacturing overhead and work-in-process accounts. Compute the missing amounts and show the balance in your manufacturing overhead T-account. (Do not round intermediate calculations.) Work in Process Manufacturing Overhead 25,200 9,600 852,000 (Direct materials) (Direct labour) (Overhead) 108,000 (Maintenance) (Indirect materials) (Indirect labour) (Utilities) (Insurance) (Depreciation) 71,900 38,400 8,400 67,200 3-a. Compute the amount of under- or overapplied overhead for the year, and show the balance in your manufacturing overhead T-account. overhead IS 3-b. Prepare a general journal entry to close out the balance in this account to cost of goods sold. (If no entry is required for a particular transaction, select "No journal Intry required in the first account field.) View transaction list Journal entry worksheet 1 Record entry to write off over or underapplied overhead to cost of goods sold. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 View general journal Record entry Clear entry