Harwood Company uses a job-ordor costing system that apghes owerhead cost to jobsion the bash of machine hiours the enenpory precdetermiefed querhed rate of 5.230 per machine hour was based on a cost formuta that estinnates 5225.400 of tosal methif aciorinh Requiredf Assume that dering the year the company works anly 93,000 machineihours and incurs the folfowirng costs in the Manifacturing Qherhead and Work in Process accounth: Compote the a mount of owoahead cost that would be applied fo Work in Procers for the yer that and make the entry in yout f-accounts. 2A. Compute the-dmount of underapplied or overapplied overhead for the year and show the bulance in your Mamufacturing Dverhead T account. 28. Prepare a journat ontiry to close the coenpany's underappied ar everapplied oveuhead to Cont at Goods Sold Complete this question by entering your answers in the tabis below. 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 $2.30 per machine-hour was based on a cost formula that estimates $225.400 of total manufacturing overhead for an estimated activity level of 98,000 machine-hours. Required: 1. Assume that during the year the company works only 93.000 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. Complete this question by entering your answers in the tabs below. 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 COGS account. Nota: Fnter debits before credits