Homework O 4 20 pune B 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 $2.80 per machine-hour was based on a cost formula that estimates $232.400 of total manufacturing overhead for an estimated activity level of 8000 machine hours Required 1 Assume that during the year the company works only 78.000 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 accounts 2A Compute the amount of underapplied or overapplied overhead for the year and show the balance in your Manufacturing Overhead Taccount 21 Prepare a journal entry to close the company's underapplied or overappled overhead to Cost of Goods Sold Competition by entering your were in the tabs b Compute the amount of overhead cost that would be applied to Work in Process for the year and make the entry in your accounts Manufacturing Overhead D 24,000 8.300 2000 (Overhead) (a) 36000 7.300 Depreciati 65.000 Balance Wiki Po De 740.000 93.000 Req2> Help Seve 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 $2.80 per machine-hour was based on a cost formula that estimates $232,400 of total manufacturing overhead for an estimated activity level of 83,000 machine-hours. Required: 1. Assume that during the year the company works only 78,000 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. 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. manufacturing overhead < Req 1 Req 2B > plete this question by entering your answers in the tabs below. Req 1 Req 2A Req 28 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 Journal entry worksheet < 1 Record the entry to close the balance of the manufacturing overhead account to COGS account. Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry View general journal