Instruction Chart of Accounts Factory Overhead General Journal Instruction The Winston Company estimates that the factory overhead for the following year will be $833,900. The company has decided that the basis for applying factory overhead should be machine hours, which is estimated to be 26,900 hours. The total machine hours for the year was 54,000. The actual factory overhead for the year was $1,664,000 Required: (a) Determine the total factory overhead amount applied (b) Calculate the ovevapplied or underapplied amount for the year. Enter the amount as positive values. (c) Prepare the journal entry to close factory Overhead into Cost of Goods Sold. Refer to the Chart of Accounts for exact wording of account titles Factory Overhead (a) Determine the total factory overhead amount applied. Total factory overhead applied S (b) Calculate the overall or underapplied amount for the year. Enter the amount as positive wues Factory overhead by S General Journal Factory Overhead (a) Determine the total factory overhead amount applied. Total factory overhead applied (b) Calculate the overapplied or underapplied amount for the war. Enter the amount as positive values Factory overhead General Journal (Prepare the journal entry to close Factory Overhead into Cost of Goods Sold on December 31. Refer to the Chart of Accounts for exact wording of account titles PAGE 1 JOURNAL POST. REF. DEBIT CREDIT Nex