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 80 per machine hour was based o O per machine hour was based on a cost formula that estimates $232.400 of total manufacturing overhead for an estimated activity level of 83.000 machine hours Required t Assume that during the year the company works only 78.000 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 accounts 2A Compute the amount of underapplied or overapplied overhead for the year and show the balance in your Manufacturing Overhead Taccount 28. 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 Reg 24 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 ring Overhead indirect mat) U urance Depreciation Balance tomheducation.com/ext/mapin Reg 1 24.000 8.300 82.000 36.000 7,300 66.000 Complete this question by entering your answers in the tabs below. Homework 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 $2.80 per machine hour was based on a cost formule that estimates $232.400 of total manufacturing overhead for an estimated activity level of 83.000 machine-hours Credit IN) Required 1 Assume that during the year the company works only 78.000 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 Reg 1 2A Compute the amount of underapplied or overapplied overhead for the year and show the balance in your Manufacturing Overhead T-account 28. Prepare a journal entry to close the company's underapplied or overapplied overhead to Cost of Goods Sold Reg 2A Reg 28 Compute the amount of underapplied or overapplied overhead for the year and show the balance in your Manufacturing Overhead T-account < 1 Journal entry worksheet Direct materia Direct labor (Overhea) () 1 Assume that during the year the company works only 78.000 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 Taccount. 28. 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. Reg 28 Note Enter debits before credits Event 1 Record entry Work in Process Reg1 Reg 2A Prepare a journal entry to close the company's underapplied or overapplied overhead to Cost of Goods Sold. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 740.000 93.000 Reg 2A >> General Journal Clear entry Record the entry to close the balance of the manufacturing overhead account to COGS account. Creat Debit Credit View general journal