Oak Outdoor Furniture manufactures wood patio furniture. If the company reports the following costs for June 2018, what is the balance in the Manufacturing Overhead account before overhead is allocated to jobs? Assume that the labor has been incurred, but not yet paid. Prepare journal entries for overhead costs incurred in June.
Wood ............................................... $ 270,000
Nails, glue, stain ...................................... 18,000
Depreciation on saws .................................. 5,300
Indirect manufacturing labor ....................... 45,000
Depreciation on delivery truck ...................... 1,700
Assembly-line workers' wages .................... 51,000