E2-19 (Algo) Preparing Journal Entries [LO 2-S1) Verizox Company uses a job order cost system with manufacturing overhead applied to products based on direct labor hours. At the beginning of the most recent year, the company estimated its manufacturing overhead cost at $175,680. Estimated direct labor cost was $452,010 for 18,300 hours. Actual costs for the most recent month are summarized here: Total Cost $45,202 Item Description Direct labor (1,830 hours) Indirect costs Indirect labor Indirect materials Factory rent Factory supervision Factory depreciation Factory janitorial work Factory insurance General and administrative salaries Selling expenses 2,440 3,320 3,250 4,880 5,740 1,140 1,720 4,190 5,370 Required: 1. 2. & 3-a. Prepare the journal entries for overhead. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 Record the application of manufacturing overhead to production. 1., 2. & 3-a. Prepare the journal entries for overhead. (If no entry is required for a transaction/eve Required" in the first account field.) View transaction list Journal entry worksheet MacBook Air 000 000 F4 F3 F5 F6 F7 View transaction list Journal entry worksheet MacBook Air 80 se 000 000 F4 1 F2 F5 F7 F3 F6 G $ % A & View transaction list Journal entry worksheet 1 2 Record the transfer of manufacturing overhead account balance to cost of goods sold. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal 3-b. Does the last transaction increase or decrease Cost of Goods Sold? BER MacBook Air 80 F3 000 000 F4 F2 F5 F6 F7 $ % A &