QS 19-18 (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 $1,254,500, and direct labor cost is $618,000. 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. Prepare the joumal 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: Enter debits before credits. QS 19-18 (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 $1,254,500, and direct labor cost is $618,000. 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 overhead