Wang's Corporation applies overhead based upon machine-hours. Budgeted factory overhead was $325,000 and budgeted machine-hours were 13,000. Actual factory overhead was $312,330 and actual machine-hours were 12,660. Before disposition of over- or underapplied overhead, the cost of goods sold was $725,000 and ending inventories were as follows: WIP Finished goods Total $150,000 375,000 $525,000 Required: a. Compute the amount of overhead, applied to production b. Prepare the journal entry to dispose of the over/underapplied overhead using the write-off to cost of goods sold approach. c. Prepare the journal entry to dispose of the over/underapplied overhead using the proration approach