QS 15-11 Entry for over- or underapplied overhead LO P4 A company applies overhead at a rate of 160% of direct labor cost Actual overhead cost for the current period is $931,000, and direct labor cost is $545,000 Determine whether there is over- or underapplied overhead using the T-account below. Factory Overhead QS 15-12 Entry for over- or underapplied overhead LO P4 A company's Factory Overhead account shows total debits of $628,000 and total credits of $771,000 at the end of the year Determine whether there is over- or underapplied overhead using the T-account below. Factory Overhead