Question 1 (1 point) In 20X1, Mustang Co. budgeted its 20X2 overhead to be $595,000, and it expected to use 85,000 hours of factory machine time, which resulted in a predetermined overhead rate of $7.00 per machine hour. In 20X2 its actual overhead was $633,000, and it had used 81,000 hours of machine time. The journal entry to close the overhead account in 20x2 would include: credit overhead $66,000 O credit cost of goods sold 8633,000 debit overhead $567,000 debit cost of goods sold $633,000