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2. KH Corporation manufactures laptops. Using a predetermined rate that is based on machine hours, KH allocated manufacturing overhead cost $80,000,000 to jobs this year.

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2. KH Corporation manufactures laptops. Using a predetermined rate that is based on machine hours, KH allocated manufacturing overhead cost $80,000,000 to jobs this year. At year end, the actual manufacturing overhead cost incurred was reported as $115,000,000. What entry would KH make in the Cost of Goods Sold and Manufacturing overhead account to close the manufacturing overhead account? (Adjustment Journal entry: 1.5 points)

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