Underapplied or Overapplied Overhead At the end of the year, Jackson Tank Company's accounts showed a $52,800 credit balance in Manufacturing Overhead Control. In addition, the company had the following account balances: Work in Process Inventory $307,200 Finished Goods Inventory 76,800 Cost of Goods Sold 576,000 a. Prepare the necessary journal entry to close the overhead account if the balance is considered immaterial. Account Debit Credit b. Prepare the necessary journal entry to close the overhead account if the balance is considered material. Note: List credit accounts in alphabetical order by account name. Account Debit Credit