Harwood Company is a manufacturing rm that operates ajob-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 $126,000 in manufacturing overhead costs and work 60,000 machine-hours, Required: 1. Compute the company's predetermined overhead rate, (Round your answer to 2 decimal places.) $ 2.10 per MH 2. Assume that during the year the company works only 50,600 machine-hours and incurs the following costs in the manufacturing overhead and work-in-process accounts. Compute the missing amounts and show the ba ance in your manufacturing overhead T- account. (Do not round intermediate calculations.) (Maintenance) 13,700 106,260 (Direct materials) 479,400 (Indirect materials) 5,400 (Direct labour) 59,500 (Indirect labour) 39,400 (Overhead) 16,240 (Utilities) 21,600 (Insurance) 4,600 (Depreciation) 37,800 3-3. Compute the amount of under or overapplled overhead for the year, and show the balance in your manufacturing overhead T- account. ;_; 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 entry required" in the first account field.) View transaction list Journal entry worksheet gl Ctrl + Alt + A 7 g Ctrl + Alt + S ail}. Ctrl + Alt + O Record entry to write off over or underapplied c Note: Enter debits before credits. g Ctrl + Alt + F \\/ Eilill'l' Record entry Clear entry View general journal