Question: how do you solve this and what is the answer? how do you solve the tables and Req 2A and Req 2B? Harwood Company uses

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 $2.60 per machine-hour was based on a cost formula that estimates $213,200 of total manufacturing overhead for an estimated activity level of 82,000 machine-hours. Required: 1. Assume that during the year the company works only 77,000 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 T-account. 28. Prepare a journal entry to close the company's underapplled or overapplied overhead to Cost of Goods Sold. Complete this question by entering your answers in the tabs below. Compute the amount of overtwead cost that would be applied to Work in Process for the year and make the entry in your T-accounts. Exercise 3-9 (Algo) Applying Overhead; T-accounts; Journal Entries [LO3-1, LO3-2, LO3-4] 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 $2.60 per machine-hour was based on a cost formula that estimates $213,200 of total manufacturing overhead for an estimated activity level of 82,000 machine-hours. Required: 1. Assume that during the year the company works only 77,000 machine-hours and incurs the following costs in the Manufacturing Overhead and Work in Process aecounts: 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 T-account. 2B. 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. Compute the amount of underapplied or overapplied overhead for the year and show the balance in your Manufacturing Overhead T.account. Complete this question by entering your answers in the tabs below. 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.) Journal entry worksheet Record the entry to close the balance of the manufacturing overhead occount to COGS account. Hotw: Rinter debits before credits. Exercise 3-9 (Algo) Applying Overhead; T-accounts; Journal Entries [LO3-1, LO3-2, LO3-4] 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 $2.60 per machine-hour was based on a cost formula that estimates $213,200 of total manufacturing overhesd for an estimated activity level of 82.000 machine-hours. Required: 1. Assume that during the year the company works only 77.000 muchine-hours and incurs the following costs in the Manufacturing. Overhead and Work in Process accounts: Compute the amount of ovethead cost that would be applied to Work in Process for the year and make the entry in your T-Bccounts. 2A. Compute the amount of underapplied or overopplied overhead tor the year and show the balance in your Manufacturing Overhead T-account. 28. Prepare a joumai entry to clese the company's underapplied anjoverapplied overhead to Cost of Goods Sold: Complete this question by entaring your answers in the tabs below. Compute the ampant of dverhead cost that would be applied fa Work in Process far the year and make thie entry in your T-accosnts, 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 $2.60 per machine-hour was based on a cost formula that estimates $213,200 of total manufacturing overhead for an estimated activity level of 82,000 machine-hours. Required: 1. Assume that during the year the company works only 77,000 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 T-account. 28. Prepare a journal entry to close the company's underapplled or overapplied overhead to Cost of Goods Sold. Complete this question by entering your answers in the tabs below. Compute the amount of overtwead cost that would be applied to Work in Process for the year and make the entry in your T-accounts. Exercise 3-9 (Algo) Applying Overhead; T-accounts; Journal Entries [LO3-1, LO3-2, LO3-4] 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 $2.60 per machine-hour was based on a cost formula that estimates $213,200 of total manufacturing overhead for an estimated activity level of 82,000 machine-hours. Required: 1. Assume that during the year the company works only 77,000 machine-hours and incurs the following costs in the Manufacturing Overhead and Work in Process aecounts: 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 T-account. 2B. 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. Compute the amount of underapplied or overapplied overhead for the year and show the balance in your Manufacturing Overhead T.account. Complete this question by entering your answers in the tabs below. 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.) Journal entry worksheet Record the entry to close the balance of the manufacturing overhead occount to COGS account. Hotw: Rinter debits before credits. Exercise 3-9 (Algo) Applying Overhead; T-accounts; Journal Entries [LO3-1, LO3-2, LO3-4] 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 $2.60 per machine-hour was based on a cost formula that estimates $213,200 of total manufacturing overhesd for an estimated activity level of 82.000 machine-hours. Required: 1. Assume that during the year the company works only 77.000 muchine-hours and incurs the following costs in the Manufacturing. Overhead and Work in Process accounts: Compute the amount of ovethead cost that would be applied to Work in Process for the year and make the entry in your T-Bccounts. 2A. Compute the amount of underapplied or overopplied overhead tor the year and show the balance in your Manufacturing Overhead T-account. 28. Prepare a joumai entry to clese the company's underapplied anjoverapplied overhead to Cost of Goods Sold: Complete this question by entaring your answers in the tabs below. Compute the ampant of dverhead cost that would be applied fa Work in Process far the year and make thie entry in your T-accosnts
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