7. Willow Manufacturing Overhead applied to jobs in June was $300,000. The actual manufacturing overhead was $340,000. The balance in Work in Process inventory was $300,000, the balance in finished goods inventory was $700,000, and the balance in Cost of Goods Sold was $1,000,000. Prepare the required adjusting journal entry for June 30th and post it to the ledger

8. Rose Manufacturing Overhead applied to jobs in July was $500,000. The actual manufacturing overhead was $450,000. the balance in work in process inventory was $500,000, the balance in finished goods inventory as $600,000 and the balance in cost of goods sold was $800,000 prepare the required adjusting journal entry for July 31st and post it to the ledger.