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 $192,000 of total manufacturing overhead for an estimated activity level of 80,000 machine-hours. Requlrec 1. Assume that during the year the company works only 75,000 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 overapplled 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. Req 1 Req 2A Req 2B 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 21.000 8,000 60,000 32,000 7.000 56,000 Work in Process (Maintenance) (Indirect materials) (Indirect labor) (Utilities) (Insurance) Direct materials) (Direct labor) (Overhead) (a) 710,000 90,000 ation) Balance Req 1 Req 2A Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Compute the amount of underapplied or overapplied overhead for the year and show the balance in your Manufacturing Overhead T-Account from Req 1. manufacturing overhead K Req 1 Complete this question by entering your answers in the tabs below. Req 1 Req 2B Req 2A 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 View jourmal entry worksheet Event Debit No General Journal Credit No Transaction Recorded