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i Saved Required information [The following information applies to the questions displayed below.] Sweeten Company had no jobs in progress at the beginning of
i Saved Required information [The following information applies to the questions displayed below.] Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during March-Job P and Job Q. Job P was completed and sold by the end of March and Job Q was incomplete at the end of March. The company uses a plantwide predetermined overhead rate based on direct labour-hours. The following additional information is available for the company as a whole and for Jobs P and Q (all data and questions relate to the month of March): Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per direct labour-hour Estimated total direct labour-hours to be worked Total actual manufacturing overhead costs incurred $ 16,000 $ 1.90 4,000 $ 22,200 Direct materials $ Job P 22,700 Direct labour $ 58,900 Actual direct labour-hours worked 3,100 Job Q $ 8,500 $ 10,450 550 14. Prepare the journal entry to close the amount of underapplied or overapplied overhead to the appropriate account. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list
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