Henrietta Woodworking uses normal costing and allocates manufacturing overhead to jobs based on a budgeted labor-hour rate and actual direct labor-hours. Under- or overallocated overhead, if immaterial, is written off to Cost of Goods Sold. During 2017, Henrietta recorded the following: (Click the icon to view the data.) Read the requirements. Requirement 1. Compute the budgeted manufacturing overhead rate. Enter the formula, then enter the amounts to calculate the budgeted manufacturing overhead rate. Budgeted manufacturing Budgeted quantity of cost-allocation base overhead rate Budgeted manufacturing overhead costs 4,410,000 210,000 21 Requirement 2. Prepare the summary journal entry to record the allocation of manufacturing overhead. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry - X i Data Table $ Budgeted manufacturing overhead costs Budgeted direct labor-hours 4,410,000 210,000 4,506,000 215,000 Actual manufacturing overhead costs $ Actual direct labor-hours - X Requirements 1. 2. 3. Compute the budgeted manufacturing overhead rate. Prepare the summary journal entry to record the allocation of manufacturing overhead. Compute the amount of under- or overallocated manufacturing overhead. Is the amount significant enough to warrant proration of overhead costs, or should Henrietta Woodworking write it off to cost of goods sold? Prepare the journal entry to dispose of the under- or overallocated overhead. Print Done Henrietta Woodworking uses normal costing and allocates manufacturing overhead to jobs based on a budgeted labor-hour rate and actual direct labor-hours. Under- or overallocated overhead, if immaterial, is written off to Cost of Goods Sold. During 2017, Henrietta recorded the following: E (Click the icon to view the data.) Read the requirements. Requirement 1. Compute the budgeted manufacturing overhead rate. Enter the formula, then enter the amounts to calculate the budgeted manufacturing overhead rate. Budgeted manufacturing Budgeted manufacturing overhead costs / Budgeted quantity of cost-allocation base overhead rate $ 4,410,000 210,000 = $ 21 Requirement 2. Prepare the summary journal entry to record the allocation of manufacturing overhead. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Accounts Debit Credit lework: Ch 4 Hwk 5 of 20 pts 8 of -28 (similar to reg Wo etes Accounts Payable Control the Accounts Receivable Control Accumulated Depreciation Control Cost of Goods Sold men Depreciation Expense Finished Goods Control for Manufacturing Overhead Allocated Manufacturing Overhead Control gete Materials Control Miscellaneous Accounts Revenues hen Salary Expense atrie Wage Expense Wages Payable Control Work-in-Process Control om any list or enter any number in the input fields and then click Check Clear ning Type here to search
