Question

15 Required Homework Hele Actual indirect materials costs Actual indirect labor costs Other overhead costs Overhead applied Starm Concert Promotions $11,600 55,100 17,500 91,600 Valle Hone Builders $ 7,100 46, ece 48,200 96,960 Storm Concert Promotions Determine whether overhead is overapplied or underapplied. Prepare the journal entry to allocate (close) overapplied or underapplied overhead to Cost of Goods Sold Valle Home Builders Determine whether overhead is overapplied or underapplied Prepare the journal entry to allocate (close) overapplied or underapplied overhead to Cost of Goods Sold Complete this question by entering your answers in the tabs below. Factory OH Storm GJ Valle Factory OH Valle G) Storm Determine whether overhead is overapplied or underapplied, Next 6 of 7 < Prex

Answer 1

Storm Concest promotions oues application under application of overheads is determined factory overhead stoom Actualindided Naferials Costs $u, Goo $ al. Goo Acfoal indirect tabous costs $55,100 othed oveshoods Corts $ 12, soo $84.200 over apored overhead piloo Journal entry to allocate Carose) Qusapplied or undes applied dueshead to cost of goods sold is as follows: Account Title & Explanation Fortory overhead Cost of goods Sold s $2,400 valle Home Buidoos overapplication under application of ovesheads is determined as follows: vare Home Builders Actual indirect material Costs & 7,100 Applied oveshead Artual incisect labout Costs $ 46,000 othed oveshoods Costs. че otal $ 101300 unded applied oveshood 4,400 $ Journal entry to arorate/Rose) overapplied of under anpried overhead to cost of goods sold is as follows: Account Title & Explanation Cost of goods sold Factody oveshood & Gikoo