Morris Corporation applies manufacturing overhead to jobs at a rate of $50 per direct labor hour. During the current period, actual overhead costs totaled $240,000 and 5,000 direct labor hours were worked by the company's employees. a. Record the journal entry to close the Manufacturing Overhead account directly to Cost of Goods Sold at the end of the period. b. Was manufacturing overhead overapplied or was it underapplied? Complete this question by entering your answers in the tabs below. Required A Required B Record the journal entry to close the Manufacturing Overhead account directly to Cost of Goods Sold at the end of the period. (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 Record the journal entry to close the Manufacturing Overhead account directly to Cost of Goods Sold at the end of the period. Note: Enter debits before credits Debit General Journal Transaction Credit