Homework Answers
a) Predetermine overhead rate = 77000/22000 = 3.50 per labor hour
b) Applied overhead = 24000*3.5 = $84000
c) Over applied overhead = 84000-80000 = 4000
d) Journal entry
| Date | account and explanation | Debit | Credit |
| Cost of goods sold | 4000 | ||
| Manufacturing overhead | 4000 | ||
| (To close overhead) |
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