Q 1 Job Costing Huda Corporation's accounting information system showed the following balances at the end of this period: Work in process Finished goods Cost of goods sold $40,000 60,000 100,000 Miss-applied overhead this period totaled $60,000; Huda maintains a single overhead account in its general ledger. If the miss-applied overhead is considered material, prepare the journal entry to record its disposition. Discuss why you could have Misallocated Overhead