D Ch. 2: Homeworkx C | ezto.mheducation.com/hrn..tpx :::Apps!. DelCapitalOre Cre

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D Ch. 2: Homeworkx C | ezto.mheducation.com/hrn..tpx :::Apps!. DelCapitalOre Credit C Welcome-myutrgill create an MLA7 CouG Google-UT Flex powered by, Verizox Company uses a job order cost system with manufacturing overhead applied to products based on direct labor hours. At the beginning of the most recent year, the . Estimated diroct labor cost was $478,710 for 19,700 hours company estimated its manufacturing overhead cost at $187,150 Actual costs for the most recent month are summarized here Item Description Total Cost S 47,872 Direct labor (1,970 hours) Indirect costs Indirect labor Indirect materials Factory rent Factory supervision Factory depreciation Factory janitorial work Factory insurance General and administrative salaries Seling expenses 2,590 3.390 3,320 4,840 5,690 1,220 1,780 4.150 5,460 Prepare the youmal entries for overhead (If no entry is required for a transactionlevent, select "No Journal Entry Required" in the first account field) 1, 2.& 3.a. Prepare the jounal entries for overhead (f no entry is required for a transactionlevent, select "No Journal Entry View transaction list Journal entry worksheet Record the application of manufacturing overhead to production. Note: Enter debits before credits Overhead 478,7 478,710 20 View general joumal Clear entry Record entry 54, r head 3b. Does the last transaction Increase or decrease Cost of Goods Sold? increase Decrease

Explanation / Answer

Journal entry :

Last transaction increase cost of goods sold

Date accounts & explanation debit credit Work in process a/c 18715 Manufacturing overhead 18715 (To record applied manufacturing o/h) Manufacturing overhead 22830 Accured expenses payable 22830 (To record overhead incurred) Cost of goods sold a/c 4115   Manufacturing overhead 4115 (To record Balane transfer to cost of goods sold)

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