Flores Foundry uses a predetermined overhead allocation rate to allocate overhead to individual jobs, based on the machine hours required. Data Table At the beginning of 2018, the company expected to incur the following: Predetermined overhead Manufacturing overhead costs Direct labor costs $900,000 1,440,000 75,000 hours allocation rate per machine hour Machine hours plebits first, then credits. Exclude explanations from any journal entries.) At the end of 2018, the company had actually incurred: lebit Credit $1,240,000 550,000 31,850 Direct labor costs Depreciation on manufacturing plant and equipment Property taxes on plant Sales salaries Delivery drivers' wages Plant janitor's wages Machine hours 25,000 21,500 18,000 culate the balance. (Enter the ending balance on the last line.) 62,000 hours he next question. Print Done D Copy of Lab 4 S....pptx Copy of Lab 4 S....pptx Copy of Lab 4 S....pptx Copy of Lab 4 S.....pptx Sunspot Tracki....docx Flores Foundry uses a predetermined overhead allocation rate to allocate overhead to individual jobs, based on the machine hours required. (Click the icon to view the costs.) Read the requirements. Manufacturing Overhead O English Wake Up Is manufacturing overhead underallocated or overallocated? By how much? Manufacturing overhead is by Requirement 4. Prepare the journal entry to adjust for the underallocated or overallocated manufacturing overhead. Does your entry increase or decrease cost of goods sold? (Record debits first, then credits. Exclude explanations from any journal entries.) Date Accounts Debit Credit Dec. 31 Choose from any list or enter any number in the input fields and then continue to the next question. Copy of Lab 4 S....pptx Copy of Lab 4 S....pptx Copy of Lab 4 S....pptx 0 Copy of Lab 4 S...pptx Sunspot Tracki....docx Show All Flores Foundry uses a predetermined overhead allocation rate to allocate overhead to individual jobs, based on the machine hours required. B Click the icon to view the costs.) Read the requirements. Requirement 1. Compute Flores' predetermined overhead allocation rate. Predetermined overhead allocation rate per machine hour Requirement 2. Prepare the journal entry to allocate manufacturing overhead. (Record debits first, then credits. Exclude explanations from any journal entries.) Date Accounts Debit Credit Dec. 31 Requirement 3. Post the manufacturing overhead transactions to the T-account and calculate the balance. (Enter the ending balance on the last line.) Manufacturing Overhead Choose from any list or enter any number in the input fields and then continue to the next question. Copy of Lab 4 S....pptx 6 Copy of Lab 4 S....pptx Copy of Lab 4 S....pptx Copy of Lab 4 S....pptx Sunspot Tracki....docx Flores Foundry uses a predetermined overhead allocation rate to allocate overhead to individual jobs, based on the machine hours required. Click the icon to view the costs.) Read the requirements. Is manufacturing overhead underallocated or overallocated? By how much? English Manufacturing overhead is by Wake Up Requirement 4. Prepare the journal entry to adjust for the underallocated or overallocated manufacturing overhead. Does your entry increase or decrease cost of goods sold? (Record debits first, then credits. Exclu explanations from any journal entries.) Date Accounts Debit Credit Dec. 31 Does your entry increase or decrease Cost of Goods Sold? This entry Cost of Goods Sold. Choose from any list or enter any number in the input fields and then continue to the next question. Copy of Lab 4 S....pptx Copy of Lab 4 S....pptx Copy of Lab 4 S....pptx 0 Copy of Lab 4 S...pptx Sunspot Tracki....docx Shov
