Question

Chapter 2 Assignment X M MHE Reader x + - X € → C newconnect.mheducation.com/flow/connect.html Chapter 2 Assignment Saved Help Save & Exit Submit Check my work 12 Josle Inc. has provided the following Information for the year ended 20x8 points a. Purchased raw materials on account for $121,700. b. Issued $114,600 in raw materials to production ($20,200 were not traceable to specific jobs). c. Incurred $100,681 in direct labor costs (14,383 hours) and $62,400 in supervision costs (paid in cash). d. Incurred the following additional manufacturing overhead costs: factory lease $22,800 (paid in cash); depreciation on equipment $19,600; custodial supplies $5,900 (paid in cash). e. Incurred the following nonmanufacturing costs, both paid in cash: advertising $74,000, sales commissions $86,500. f. Applied manufacturing overhead to jobs in process at a rate of $11 per direct labor hour. g. Completed jobs costing a total of $343,400. h. Sold jobs for $425,900 on account. The cost of the jobs was $341,700. 1. Closed the Manufacturing Overhead account balance, eRook Print References Prepare the journal entries to record these transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list View journal entry worksheet No Event General Journal Credit Debit 121,700 Raw Materials Inventory < Prev 12 of 12 Next > 9:19 PM 1 Type here to search A 4 % 2/1/2020 6
I only need help with part i/10

Answer 1

Solution:

Actual Overhead incurred = 20200+62400+22800+19600+5900 = $130,900

Applied overhead = 14383*$11 = $158,213

Overapplied Overhead = 158,213 - 130,900 = $27,313

Entry 10 (i):

Manufacturing Overhead Debit............$27313

Cost of Goods sold...............................................$27,313