7. Is the factory overhead from Exercise 6 over- or under applied? If Cards by Shannon has a March 31 fiscal year-end, prepare the journal entry required to dispose of the balance in Factory Overhead.

8. Cards by Shannon completed Job 22 on April 5 and Job 23 on April 6. Use the information in Exercises 48 to prepare the journal entries required to transfer the jobs. Job 22 also incurred $7,900 of direct materials and $1,000 of direct labor costs, and Job 23 incurred $9,000 of direct materials and $900 of direct labor costs previously.

9. On June 12, 20Y5, the materials account has a balance of $350. Michaels Camping Supply receives the following: materials requisition for Job 81 for $120, Receiving Report No. 99 for $790, Receiving Report No. 100 for $900, and materials requisition for Job 83 for $185. Prepare the journal entries to record the transactions if the company pays for the materials on credit. Also, determine the balance of Materials at the end of the day.

10. During the month of June, employee time tickets at Michaels Camping Supply provide the following information: 700 hours for Job 81, 675 hours for Job 82, and 500 hours for Job 83. Workers are paid $9 for every hour worked. Prepare the journal entries required as of the end of the month.