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 $260 per machine-hour was based on a cost formula that estimates $257.400 of total manufacturing overhead for an estimated activity level of 99,000 machine-hours. Required: 1 Assume that during the year the company works only 94.000 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 2A. Compute the amount of underappled or overapplied overhead for the year and show the balance in your Manufacturing Overhead T-account 28. Prepare a journal entry to close the company's underapplied or overapplied overhead to Cost of Goods Sold. Complete this question by entering your answers in the tabs below. Reg1 Reg 24 Reg 28 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 900,000 109.000 (Direct materials) (Direct labor) (Overhead (6) Manufacturing Owuthead 40.000 9.900 19.000 46.000 8 900 64.000 (Maintenance) (Indirect materials) Indirect labor) (Ulities (Insurance) (Depreciation) Balance Re Req2A > 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 $2.60 per machine-hour was based on a cost formula that estimates $257,400 of total manufacturing overhead for an estimated activity level of 99,000 machine-hours Required: 1. Assume that during the year the company works only 94,000 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 28 Prepare a journal entry to close the company's underapplied or overapplied overhead to Cost of Goods Sold. Complete this question by entering your answers in the tabs below. R1 Reg 2A Reg 28 Compute the amount of underapplied or overapplied overhead for the year and show the balance in your Manufacturing Overhead T-account from Re 1. manufacturing overhead Required: 1. Assume that during the year the company works only 94.000 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 yea 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. Complete this question by entering your answers in the tabs below. R1 Reg 2A Reg 28 Prepare a journal entry to close the company's underapplied or overapplied overhead to cost of Goods Sold. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet
