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1 $ Question Two CMAC Manufacturing creates specialized parts for use in home entertainment systems. At the end of September 20XX, CMAC Manufacturing had the

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1 $ Question Two CMAC Manufacturing creates specialized parts for use in home entertainment systems. At the end of September 20XX, CMAC Manufacturing had the following balances to the company's WIP Inventory, Finished Goods 2 Inventory, and COGS accounts, respectively. 3 Account Balance 4 WIP Inventory $ 24,000 5 Finished Goods Inventory 106,000 6 Cost of Goods Sold 170,000 At period's end, the following amount of manufacturing overhead had been allocated to to the company's WIP 7 Inventory, Finished Goods Inventory, and COGS accounts respectively. MOH 8 Account Allocated 9 WIP Inventory 4,000 10 Finished Goods Inventory 16,000 11 Cost of Goods Sold 20,000 12 Requirement One Assume that CMAC overallocated $5,000 worth of overhead during the month of September 20XX. Finish the chart below in order to disperse this overallocation of overhead to WIP Inventory, Finished Goods Inventory, and 13 COGS using the proration approach. % of Total Account MOH Account Name Amount of Account Balance (Old) MOH 14 Allocated Proration Balance (New) Allocated 15 Work-in-Process Inventory 16 Finished Goods Inventory 17 Cost of Goods Sold 18 Total 19 Requirement Two Record the September 30th journal entry to correct CMAC Manufacturing's overallocation of overhead using the 20 Araration annanch Question One Question Two 132 B D E F At period's end, the following amount of manufacturing overhead had been allocated to to the company's WIP 7 Inventory, Finished Goods Inventory, and COGS accounts respectively. MOH Account 8 Allocated 9 WIP Inventory 4,000 10 Finished Goods Inventory 16,000 11 Cost of Goods Sold 20,000 12 Requirement One Assume that CMAC overallocated $5,000 worth of overhead during the month of September 20XX. Finish the chart below in order to disperse this overallocation of overhead to WIP Inventory, Finished Goods Inventory, and 13 COGS using the proration approach. % of Total Account MOH Amount of Account Name Account MOH Balance (Old) Allocated Proration Balance (New) 14 Allocated 15 Work-in-Process Inventory 16 Finished Goods Inventory 17 Cost of Goods Sold 18 Total 19 Requirement Two Record the September 30th journal entry to correct CMAC Manufacturing's overallocation of overhead using the 20 proration approach. 21 22 23 24 25 26 Requirement Three Question One Question Two

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