QS 15-18 (Algo) Computing and recording over- or underapplied overhead LO P4 A company applies overhead at a rate of 200% of direct labor cost. Actual overhead cost for the current period is $1,327,600, and direct labor cost is $654,000. 1. Compute the under- or overapplied overhead. 2. Prepare the journal entry to close over- or underapplied overhead to Cost of Goods Sold. Complete this question by entering your answers in the tabs below. Required 1 Required 2 1 t Compute the under- or overapplied overhead. Factory Overhead ences Actual overhead 1,327,600 1,308,000 Applied overhead Underapplied overhead 19,600 Required 1 Required 2 >