Exercise 11-6A (Algo) Recording overhead costs in T-accounts LO 11-2

Exercise 11-6A (Algo) Recording overhead costs in T-accounts LO 11-2 Rooney Company and Solomon Company both apply overhead to the Work In Process Inventory account using direct labor hours. The following Information is avallable for both companles for the year, Rooney Company $190,200 29,000 Actual manufacturing overhand Actual direct labor hours Underapplied overhead Overapplied overhead Solomon Company $242,050 23,000 15,500 $ 21,500 Required a. Compute the predetermined overhead rate for each company. b. Using T-accounts, record the entry to close the overapplied or underapplied overhead at the end of the accounting period for each company, assuming the amounts are immaterial, Complete this question by entering your answers in the tabs below. Required A Required B Compute the predetermined overhead rate for each company. (Round your answers to 2 decimal places.) Por Direct Labor Hour Rooney Company Solomon Company Predetermined overhead rote Required > my Wurs Actual manufacturing overhead Actual direct labor hours Underapplied overband Overapplied overhead company $190,200 29,000 Any $242,050 23,000 15,500 $ 21,500 Required a. Compute the predetermined overhead rate for each company. b. Using T-accounts, record the entry to close the overapplied or underapplied overhead at the end of the accounting period for each company, assuming the amounts are immaterial Complete this question by entering your answers in the tabs below. Required A Required B es T-accounts, record the entry to close the overapplied or underapplied overhead at the end of the accounting period for each company, assuming the amounts are Immaterial. Adjusting Entry for Rooney Company Manufacturing Overhoad Cost of Goods Sold Adjusting Entry for Solomon Company Manufacturing Overhead Cost of Goode Sold