Please answer all parts, Thanks!
1 | |||
Manufacturing overhead cost | 941000 | ||
Less: Overhead applied | 780000 | =39000+117000+624000 | |
Underapplied overhead | 161000 | ||
2 | |||
General Journal | Debit | Credit | |
Cost of goods sold | 161000 | ||
Manufacturing overhead | 161000 | ||
3 | |||
General Journal | Debit | Credit | |
Work in Process | 8050 | =161000/780000*39000 | |
Finished goods | 24150 | =161000/780000*117000 | |
Cost of goods sold | 128800 | =161000/780000*624000 | |
Manufacturing overhead | 161000 | ||
4 | |||
Net operating income will be $32200 greater if the underapplied overhead (161000-128800) | |||
is allocated rather than closed entirely to cost of goods sold |
Please answer all parts, Thanks! Problem 3-12 Predetermined Overhead Rate; Disposing of Underapplied or Overapplied Overhead...
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