Tri-State Industrial, a manufacturer of children's car seats, summarized the following amounts for the current year: Predetermined variable overhead rate Predetermined fixed overhead rate o Actual annual machine hours Actual annual variable overhead $7.50/MH $12.60/MH 51,500 hours o $383,000 Actual annual fixed overhead a. b. C. $657,000 Determine the amount of variable and fixed overhead applied during the year. Determine whether variable and fixed overhead are over- or underapplied. Record the entry to dispose of over- or underapplied overhead, assuming the over- and underapplied amounts are immaterial. Practice Exercise 3-2: Now assume instead, Tri-State Industrial summarized the following amounts for the current year. Fixed Manufacturing Overhead Account Balances Actual FOH.. $220,000 Applied FOH.. 260,000 Work in Process Inventory... $ 45,640 Finished Goods Inventory. 78,240 Cost of Goods Sold 528,120 Overapplied FOH $ 40,000 Record the entry to dispose of over- or underapplied overhead, assuming that the overapplied amount is material.