The Cavy Company estimates that the factory overhead for the following year will

Question

The Cavy Company estimates that the factory overhead for the following year will be $909,600. The company has decided that the basis for applying factory overhead should be machine hours, which is estimated to be 37,900 hours. The machine hours for the month of April for all of the jobs was 4,800.

Required:

Chart of Accounts

General Journal

Prepare the journal entry to apply factory overhead for April 30. Refer to the Chart of Accounts for exact wording of account titles.

PAGE 1

JOURNAL

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Explanation / Answer

JOURNAL ENTRIES: Date Description Post. Ref. Debit Credit Work In Progress $115,200 Factry overhead $115,200 ($909600/37900 Hour)*4800 Hour) To Record Factory Overhead Applied on Job

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