Howard Co, utilizes a job order costing system to produce special customizable products. The following information is available for Howard Co: April 30 May 31 5 $49,500 11,500 69,500 65,000 23,900 48,600 Inventories Raw materials Work in process Finished goods Activities and Information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined overhead rate based on direct labor cost 223,000 371.000 28,000 93,000 133,000 1,530,000 808 Requirement 1: Determine whether there is over or underapplied overhead for Howard Co's productions. Requirement 2: Prepare the journal entry to allocate (e.g.. close) overapplied or underapplied overhead to Cost of Goods Sold. Complete this question by entering your answers in the tabs below. Overhead Absorption General Journal Determine whether there is over or underapplied overhead. Factory Overhead Overhead Absorption General Journal > Complete this question by entering your answers in the tabs below. Overhead Absorption General Journal Prepare the journal entry to allocate (close) overapplied or underapplied overhead to Cost of Goods Sold. View transaction list Journal entry worksheet