need explebation.

part a and b

please do not handwrite

The Cherokee Company uses a predetermined overhead rate. The following accounts have these unadjusted balances: Raw Materials $20,000 Work in Process $40,000 Finished Goods $10,000 Cost of Goods Sold $150,000 Manufacturing overhead applied during the year was $35,000 Prepare the entry to close the overhead accounts if overhead is underapplied by $12,000 and (a) considered immaterial, and (b) considered material. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). TTT Arial 3 (12pt) HT