is as follows: Work-in-process Finished goods inventory Cost of goods sold Total $30,000 45.000 75.000 $150.000 a.

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is as follows: Work-in-process Finished goods inventory Cost of goods sold Total $30,000 45.000 75.000 $150.000

a. Prepare the journal entry as of December 31, 20x3, to adjust cost of goods sold for the entire amount of underapplied or overapplied fixed factory overhead.

b. Prepare the journal entry as of December 31, 20x3, to allocate the amount of underapplied or overapplied fixed factory overhead to the appropriate accounts.

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