Journal Entry Date Accounts Debit Credit Requirements Manufacturing overhead costs ...... $ 610,000 Direct labor cost $ 1,500,000 Machine hours. 76,250 At the end of the year, the company had actually incurred the following: 1,240,000 1. Prepare the journal entry (entries) to record manufacturing overhead costs incurred. 2. Prepare the journal entry to record the manufacturing overhead allocated to jobs in production. 3. Use a T-account to determine whether manufacturing overhead is underallocated or overallocated and by how much. 4. Record the entry to close out the underallocated or overallocated manufacturing overhead. 5. What is the adjusted ending balance of Cost of Goods Sold? 500,000 19.000 Direct labor cost Depreciation on manufacturing plant and equipment Property taxes on plant Sales salaries Delivery drivers' wages Plant janitors' wages Machine hours 24,000 14,500 Print Done $ 11,000 56,000 hours