work A Saved Help Save & Exit Sub Check my wo Fairfield Company applies manufacturing overhead to products at a predetermined rate of $68 per direct labor hour. Its actual manufacturing costs for the most recent period are summarized here: Total Cost $ 72,000 14,600 $ 6,120 9,52 15,640 Item Description Direct materials Used on Jobs 101 and 102 Indirect materials Used on multiple jobs Hourly labor wages 920 hours $34 per hour 180 hours for Job 101 - 280 hours for Job 102 = 460 hours for Job 103 = Factory supervision Production engineer Factory janitorial work Selling, general, and administrative salaries Other manufacturing overhead costs (factory rent, insurance, depreciation, etc.) Other selling, general, and administrative costs (office rent, insurance, depreciation, etc.) 31,280 3,350 5,5ee 1,900 9,100 6,480 4,900 1. Prepare the journal entry to close the Manufacturing Overhead account balance to Cost of Goods Sold. (If no entry is required fo transaction/event, select "No Journal Entry Required" in the first account field.) ch O a 99+ Journal entry worksheet