lime remaining value: 1.00 points A company allocates overhead at a rate of 160% of direct labor period is $1,140,000, and direct labor cost is $525,000 cost. Actual overhead cost for the current Determine whether there is over- or underapplied overhead using T-account Fctory Overhead 1,140,000 Actual overhead 1,056,000 Overhead applied Underapplied overhead 84,000 Prepare the entry to close over- or underapplied overhead to cost of goods sold