Factory Overhead Rates, Entries, and Account Balance Journalize the entries to a

Question

Factory Overhead Rates, Entries, and Account Balance

Journalize the entries to apply factory overhead to production in each factory for July.

---I know the journal is set up Factory 1 work in process and then factory overhead and then Factory 2 work in process factory overhead..I just cant figure out the numbers

Determine the balances of the factory overhead accounts for each factory as of July 31, and indicate whether the amounts represent overapplied factory overhead or underapplied factory overhead.

I know it is going to be Debit underapplied and credit overapplied just once again I cannot figure out the numbers.

Thanks for anyhelp!!! Cheers!

Factory Overhead Rates, Entries, and Account Balance Almer Company operates two factories. The company applies factory overhead to jobs on the basis of machine hours in Factory 1 and on the basis of direct labor hours in Factory 2. Estimated factory overhead costs, direct labor hours, and machine hours are as follows: Journalize the entries to apply factory overhead to production in each factory for July. I know the journal is set up Factory 1 work in process and then factory overhead and then Factory 2 work in process factory overhead..I just cant figure out the numbers Determine the balances of the factory overhead accounts for each factory as of July 31, and indicate whether the amounts represent overapplied factory overhead or underapplied factory overhead.

Explanation / Answer

a-24

b-41

c-

Work In Process 73200

Factory Overhead   73200

Work In Process 82000

Factory Overhead 82000

D.

Factory 1- 1280 Debit Underapplied

Factory 2- 4500 Credit Overapplied

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