Floral Foundry uses a predetermined manufacturing overhead rate to allocate overhead to individual jobs based on the machine hours required. At the beginning of the year, the company expected to incur the following: (Click the icon to view the costs.) Floral's accountant found an error in the expense records from the year reported. Depreciation on manufacturing plant and equipment was actually $400,000, not the $470,000 that had originally been reported. The unadjusted Cost of Goods Sold balance at year-end was $560,000. The manufacturing overhead allocated to jobs was $432,000. Read the requirements. Requirement 1. Prepare the journal entry (entries) to record manufacturing overhead costs incurred. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date Accounts Manufacturing Overhead Accumulated Depreciation-Plant and Equipment Property Tax Payable Wages Payable Debit Credit 431,500 400,000 20,000 11,500