Answer Instruction The following account appears in the ledger after only part of the postings have been completed for July, the fest month of the current fiscal year July 1 Work in Process Balance 80 200 Direct materials 147 000 Direct labor 120.000 . Factory overhead is applied to you at the rate of 60 of director cost the factory overcome forway was 575.000. Jos completed during the month 550200 Required: Instruction Factory overhead is id to jobs at the rate of 60% of direct labor cost. The actual factory overhead incurred for July was 575,000 Jobs completed during the month old 5301.200 Required: Prepare the montre to record the application of factory overed to production during and the completed during Refer to the chat of accounts for me exact wording of the account CNOWomas do not forces of journal expertos Every line on a page is used for det er cedir entre Do not od motor skole Now journals wiftomatically and credit and when a crede amounts entered Porradre pony for entries that would have been made during What is the balance of the factory overed account on July 31 We rectory overed overed or underved on 317 and the balance of procese on Chart of Accounts 137 Finished Goods uzu wages capense 141 Supplies 531 Insurance Expense 142 Prepaid Expenses 532 Utilities Expense 533 Office Supplies Expense 181 Land 190 Factory Equipment 560 Depreciation Expense 191 Accumulated Depreciation 590 Miscellaneous Expense 710 Interest Expense LIABILITIES 210 Accounts Payable 221 Utilities Payable 251 Wages Payable LIABILITIES 210 Accounts Payable 221 Utilities Payable 251 Wages Payable EQUITY 311 Common Stock 340 Retained Earnings 351 Dividends 390 Income Summary General Journal 78.00 Jobe completed in the morn a Prepare the journal entries to record (t) the application of factory overhead to production during Jun Page (t) and (2the competed during July in Page 21 ore Chart oor wording of the account is CNOW Journals do not use lines for spaces or journal explanations Every line on a un papeis do debitor credit Donofore journal entries. CNOW Journals will automatically indent a crede enery when a credit afronta entered for grading purposes and to entered that would be been made tuning day JOURNAL DATE DERATION PIT DO CH 1 RAGE JOURNAL DATE DESCRIPTION POST REF DEBIT CREDIT 1 2 a. wa jou b. What is the balance of the factory overhead account on July 31? $ c. Was factory overhead overapplied or underapplied on July 31? H 1 d. Determine the balance of Work in Process on July 31. $
