lemon co uses a predetermined overhead rate based on computer hours used to apply manufacturing overhead to jobs. at the beginning of the year the company estimated fixed manufacturing overhead would be $350,480 and variable manufacturing overhead would be $4 per computer hour with 35,500 computer hours. lemon co actually had $495,000 of manufacturing overhead with 33,500 computer hours for the year.

1. calculate the amount of the overhead that is applied

2. how much manufacturing overhead is underapplied or overapplied for the year

3. what is the journal entry to close out the over/under applied amount to cost of goods sold?