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Custom Company reports the following (partal) T-account activity at the end of its first year of operations. 1. Compute the under-or overapplied overhead for the year: 2. Prepare the Journal entry to close Factory Overhead to Cost of Goods Sold. Complete this question by entering your answers in the tabs below. Compute the under- or overapplied overhead for the yeat. Custom Company reports the following (partial) T-account activity at the end of its first year of operations. 1. Compute the under-or overapplied overhead for the year. 2. Prepare the Journal entry to close Factory Overhead to Cost of Goods Sold. Complete this question by entering your answers in the tabs below. Prepare the joumal entry to close Factory Overhead to Cost of Goods Sold. Journal entry worksheet Prepare the journal entry to close Factory Overhead to Cost of Goods Sold. Note: Enter debits botere crecits