There are 1 problems in this set. I'm testing the problem. DERIT CREDIT GRADE Date Lemon Manufacturing estimated its factory overhead for January would be $15,000 and that they would use 75 hours of Direct Labor. The predetermined overhead rate was per direct labor hour. Transactions 2017/1/1 Lemon Manufacturing recorded actual factory overhead costs as follows: Indirect labor $2,500 Indirect Materials $2,000 Factory Utilities $3,000 Accumulated Depreciation--EQUIPMEN $9,000 JE DATE GENERAL JOURNAL 1 2017/1/1 2 3 4 5 6 7 2017/1/31 8 9 10 2017/1/31 11 0 0 0 0 0 O 2017/1/31 At the end of January, Lemon records overhead applied to jobs as follows: Job DL Hours Close FO Job 101 26 Job 102 22 Job 103 30 78 Using the POR, make the entry to apply the Factory Overhead. DEBIT CREOVT Was the factory overhead over or underapplied and by how much? Choose: - Amount: TRIAL BALANCE CASH ACCOUNTS RECEIVABLE RAW MATERIALS WORK IN PROCESS FINISHED GOODS FACTORY OVERHEAD ACCUM. DEPR, EQUIPMENT ACCOUNTS PAYABLE WAGES PAYABLE FACTORY UTILITIES PAYABLE COST OF GOODS SOLD TOTALS 2017/1/31 Normally, the over- or under-applied overhead would be closed to cost of Goods Sold at the end of the year. If the closing happened on 1/31/17, what entry would be made? Use lines 10 and 11 of the journal for this entry. IN BALANCE