QS 15-18 (Static) Computing and recording over-or underapplied overhead LO P4 A company applies overhead at a rate of 150% of direct labor cost. Actuat overhead cost for the current period is $950,000, and direct. labor cost is $600,000 1. Compute the under-or overapplied overhead 2. Prepare the joumal entry to close over- or underapplied overhead to cost of Goods Sold. Complete this question by entering your answers in the tabs below. Compute the under-or overapplied averhead QS 15-18 (Static) Computing and recording over-or underapplied overhead LO P4 A company appies overhead at a rate of 150% of direct labor cost. Actual overhead cost for the current period is $950,000, and direct labor cost is $600.000 1. Compute the under-or overapplied overhead 2. Prepare the journal entry to close over-or underapplled overhead to Cost of Goods Sold: Complete this question by entering your answers in the tabs below. Prepare the journal entry to close over or underapplied overhead to Cost of Goods Sold. Journal entry worksheet Record the entry to close over- or underapplied overhead. Note: Enker debits before crodits