Cambridge Manufacturing Company applies manufacturing overhead on the basis of machine hours. At the beginning of the year, the company estimated its total overhead cost to be $$300,000$ and machine hours to be $15,000.$ Actual manufacturing overhead and machine hours were $$336,000$ and $16,000,$ respectively.

Required:

& $2.$ Prepare the journal entries for actual and applied manufacturing overhead and transfer of manufacturing overhead account balance to cost of goods sold.

Note: If no entry is required for a transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.

Journal entry worksheet

$1$

$2$

$3$

Record the actual manufacturing overhead cost incurred.

Note: Enter debits before credits.

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