The Winston Company estimates that the factory overhead for the following year will be $716,400. The company has decided that the basis for applying factory overhead should be machine hours, which is estimated to be 39,800 hours. The total machine hours for the year was 54,400. The actual factory overhead for the year was $973,000.

Required:

	(a) Determine the total factory overhead amount applied.
	(b) Calculate the overapplied or underapplied amount for the year. Enter the amount as positive values.
	(c) Prepare the journal entry to close Factory Overhead into Cost of Goods Sold. Refer to the Chart of Accounts for exact wording of account titles.