View History Bookmarks Window Help 2-1 Week 2 Practice Harwood Company uses a job-order costing system that applies overhead cost to jobs on the basis of machine-hours. The company predetermined overhead rate of $2.40 per machine-hour was based on a cost formula that estimates $225,600 of total manufacturin overhead for an estimated activity level of 94,000 machine-hours. Required: 1 Assume that during the year the company works only 89,000 machine-hours and incurs the following costs in the Manufacturing Overhead and Work in Process accounts: Compute the amount of overheed cost that would be applied to Work in Process for the year and make the entry in your T-accounts 2A. Compute the amount of underapplied or overapplied overhead for the year and show the balance in your Manufacturing Overhead T-account 2B. Prepare a journal entry to close the company's underapplied or overapplied overhead to Cost of Goods Sold Complete this question by entering your answers in the tabs below Req i Req 2AReq 28 the amount of overhead cost that would be applied to Work in Process f for the year and make the entry in your T-accounts Overhead 1a)