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 $2.40 per machine-hour was based on a cost formula that estimates $201.600 of total manufacturing overhead for an estimated activity level of 84,000 machine-hours. Required: 1. Assume that during the year the company works only 79,000 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 overopplied 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. Reg 1 Reg 2A 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 Manufacturing Overhead Work in Process (Maintenance) 25,000 18.960 (a) (Direct materials) 750,000 (indirect materials) 8.400 (Direct labor) 94,000 (Indirect labor) 70.000 (Overhead) (a) 189,600 (Ulities) 32,000 (Insurance) 7,400 (Depreciation 50.000 Balance 3.200 Req2A > Prepare a journal entry to close the company's underapplied or overapplied overhead to cost of Goods Sold. (If no entr transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet