Harwood Company uses a job-order costing system that applies overhead cost to jobs on the bnsis of mochine-houts. The componys? predetefmined overhead rate of $2.50 per machine-hour was based on a cost formula that estimates $237.500 of total manufacturing overhead foc an estimated activity level of 95,000 machine-hours Required: 1. Assume that during the year the company works only 90,000 mochine 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 yeal and make the entry in your T-accounts 2A. Campute the amount of undecapplied or overapplied overhead for the year and show the balance in your Manufacturing Overhesd T-account 28 Prepare a joutnal entry to close the componys underapplied or overappled oveinead to Cost of Goods Sold. Complete this question by entering your answers in the tabs below. Compute the amount of overhead cost that would be applied to Work in Process for the vear and make the entry in your T-accounts. Compute the amount of underapplied or overapplied overhead for the year and show the balance in your Manufacturing Overhead T-account. Journal entry worksheet Record the entry to close the balance of the manufacturing overhead account: to COGSaccount Note: fnter debits befoie credite