Verizox Company uses a job order cost system with manufacturing overhead applied to products based on direct labor hours. At the beginning of the most recent year, the company estimated its manufacturing overhead cost at $186,200. Estimated direct labor cost was $491,960 for 19,600 hours. Actual costs for the most recent month are summarized here: Item Description Direct labor (1,500 hours) Indirect costs Indirect labor Indirect materials Factory rent Factory supervision Factory depreciation Factory janitorial work Factory insurance. General and administrative salaries Selling expenses Required: 1., 2. & 3-0. Prepare the journal entries for overhead. Total Cost $49,197 2,570 3,310 3,330 4,890 5,680 1,100 1,810 4,150 5,3901 3-b. Does the last transaction increase or decrease Cost of Goods Sold? Journal entry worksheet 2 3 Record the application of manufacturing overhead to production. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal > Journal entry worksheet < 1 2 3 Record the actual manufacturing overhead cost incurred. The credit can be to a generic account titled Cash, Payables and so on. Note: Enter debits before credits. Transaction b General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < 1 2 3 Record the transfer of manufacturing overhead account balance to cost of goods sold. Note: Enter debits before credits. Transaction C General Journal Debit Credit View general journal Record entry Clear entry S Req 1 to 3A Req 3B Does the last transaction increase or decrease Cost of Goods Sold? Does the last transaction increase or decrease Cost of Goods Sold? < Req 1 to 3A Req 38