mework Saved Help Save& Exit Submit Check my work 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 formula that estimates $249,200 of total manufacturing overhead for an estimated activity level of 89,000 machine-hours Required 1. Assume that during the year the company works only 84,000 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. 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 Req 1 Req 2A Req 28 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 ng Overhead Work in (Direct materials) (Direct labor) Overhead) (a) 800,000 30,000 8,900 80,000 43,000 7,900 70,000 99,000 (Indirect materials) Indirect labor) (Utlities) Balance Prev 4 of 5 Next >