Comprenons Return to question 10 QS 19-12 Entry for over- or underapplied overhead LO P4 09 points A company's Factory Overhead T-account shows total debits of $628,000 and total credits of $751,000 at the end of the year. Determine whether there is over- or underapplied overhead using the T-account below. Answer is not complete. Actual overhead Factory Overhead 628,000 751,000 Applied overhead 123,000 Overapplied overhead 246,000 Prepare the journal entry to close the balance in the Factory Overhead account to Cost of Goods Sold. Answer is complete and correct. No Transaction General Joumal Credit 1 Debit 123,000 1 Factory overhead Cost of goods sold O 123,000