Exercise 3-33 Proration of Underapplied Overhead (LO 3-5)

Cxercise -3 Proration OT unaerappllea verneaa (LU 3-) Sweet Tooth Confectionary incurred $158,000 of manufacturing overhead costs during the year Just ended. However, only $145,000 of overhead was appled to production. At the conclusion of the year, the following amounts of the year's applied overhead remalned In the varlous manufacturing accounts. Applied Overhead Renaining in Account on December 31 Work-in-Process Inventory Finished-Goods Inventory 29,000 se,75e 65,25e Cost of Goods Sold Required: Prepare a Journal entry to close out the balance In the Manufacturing Overhead account and prorate the balance to the three manufacturing accounts. (If no entry is required for a transactlon/event, select "No journal entry required" In the first account field.) View transaction IHst Journal entry worksheet Record entry to close out the balance in the Manufacturing Overhead account and prorate to manufacturing accounts. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general Journal