WE HUYU nave completed sofa QS 19-12 Entry for over- or underapplied overhead LO P4 A company's Factory Overhead T-account shows total debits of $620,000 and total credits of $741,000 at the end of the year. Determine whether there is over- or underapplied overhead using the T-account below. Answer is not complete 620,000 620,000 741.000 741.000 x Applied overhead 121,000 Overupplied 363.000 Prepare the journal entry to close the balance in the Factory Overhead account to Cost of Goods Sold. Answer is complete and correct. Ne General Journa actory overhead 121.000 121,000 Cost of goods sold