Tescott Company and Heizer Company both apply overhead to the Work in Process Inventory account using direct labor hours. The following information is available for both companies for the year: Heizer Tescott Company Company Actual manufacturing $320,000 $600,000 overhead Actual direct labor 20,000 hours Underapplied overhead Overapplied overhead 48,000 24,000 24,000 Required a. Compute the predetermined overhead rate for each company. b. Using T-accounts, record the entry to close the overapplied or underapplied overhead at the end of the accounting period for each company, assuming the amounts are immaterial Answer is not complete. Complete this question by entering your answers in the tabs below. Required Required Using T-accounts, record the entry to close the overapplied or underapplied overhead at the end of the accounting period for each company, assuming the amounts are immaterial. Adjusting Entry for Tescott Company: Manufacturing Overhead Cost of Goods Sold 320,00 368,00 48,00 ad 48,000 End Bal Adjusting Entry for Heizer Company: Manufacturing Overhead Cost of Goods Sold 576,00 24,00 24,000 600,00 ad ad End Bal K Required A RequiredB