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 $2.20 per machine-hour was based on a cost formula that estimates $202,400 of total manufacturing overhead for an estimated activity level of 92,000 machine-hours.

Required:

1. Assume that during the year the company works only 87,000 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 Overhead T-account.

2B. Prepare a journal entry to close the company's underapplied or overapplied overhead to Cost of Goods Sold.

2A. Compute the amount of underapplied 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. Reg 1 Reg 2A Req 2B Compute the amount of overhead cost that would be applied to Work in Process for the year and myke the entry in your T-accoul Work in Process 830,000 102,000 (Direct materials) (Direct labor) (Overhead) (a) Manufacturing Overhead 33,000 9,200 60,000 44,000 8,200 40,000 (Maintenance) (Indirect materials) (Indirect labor) (Utilities) (Insurance) (Depreciation) Balance Reg 2A >