On each line that you use, include both an account title and a dollar amount. If

Question

On each line that you use, include both an account title and a dollar amount.

If NO answer is needed on a line - You Must put NA.

Copper Beech Corp had the following balances before adjustment:

In addition, budgeted manufacturing overhead costs were 110,000, actual manufacturing overhead costs were $120,000, and $102,000 in manufacturing overhead costs were applied to production.

Close out Manufacturing Overhead to the relevant accounts. Use a journal entry or entries to show your solution. You may or may not use all the lines provided.

Debit

Debit

Debit

Debit

Credit

Credit

Credit

Credit

Raw Materials Inventory $ 90,000 Work in Process Inventory 27,000 Finished Goods Inventory 63,000 Cost of Goods Sold 720,000

Explanation / Answer

Manufacturing overheads Under/Over-applied: Actual overheads incurred 120000 Less: Overheads applied 102000 Overheads under-applied 18000 Journal entry for under-applied OH Cost of Good ssold Account Dr. 18000       Manufacturing oVerheads 18000

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