QS 19-12 Entry for over- or underapplied overhead LO P4 A company's Factory Overhead T-account shows total debits of $622.000 and total credits of $706,000 at the end of the year. Determine whether there is over- or underapplied overhead using the T-account below. Actual overhead 622.00001 706,000 84,000 Prepare the journal entry to close the balance in the Factory Overhead account to Cost of Goods Sold. No T Dabi Credit