* M Gmail D YouTube https://connect.m. Assignment 1 Cos... der Costing Harwood Company uses a job order costing system that applies overhead cost to jobs on the basis of machine-hours. The company's predetermined overhead rate of $2.60 per machine-hour was based on a cost formula that estimates $257400 of total manufacturing overhead for an estimated activity level of 99,000 machine-hours. Required: 1. Assume that during the year the company works only 94,000 machine hours and incurs the following costs in the Manufacturing Overhead and Work in Process accounts: Compute the amount of overhead cost that would be applied to Work in Process for the year and make the entry in your T-accounts. 2A. Compute the amount of underapplied or overapplied overhead for the year and show the balance in your Manufacturing Overhead T-account. 2B. Prepare a journal entry to close the company's underapplied or overapplied overhead to Cost of Goods Sold. Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Compute the amount of overhead cost that would be applied to Work in Process for the year and make the entry in your accounts. 1 Work in Process 900,000 109,000 (Direct materials) (Direct labor) (Qyerhead) (a) Manufacturing Overhead 40,000 9,900 79,000 46,000 8,900 64,000 (Maintenance) (Indirect materials) (Indirect labor) (Utilities) (Insurance) (Depreciation) Balance