List of Accounts Accounts Payable Accounts Receivable Accumulated Depreciation Equipment Accumulated Depreciation Factory Building Accumulated Depreciation Machinery and Equipment Accumulated Depreciation Office Building Accumulated Depreciation Plant and Equipment Cash Cost of Completed Work Cost of Goods Sold Depreciation Expense Employer Fringe Benefits Payable Employer Payroll Taxes Payable Factory Labour Factory Wages Payable Finished Goods Inventory Manufacturing Overhead Operating Overhead Payroll Liabilities Prepaid Factory Property Taxes Prepaid Factory Insurance Raw Materials Inventory Salaries Payable Sales Revenue Service Contracts in Process Service Salaries and Wages Supplies Utilities Payable Work in Process Work in Process Inventory Assume that Crane Manufacturing has $9,200 of under applied Manufacturing Overhead at December 31, 2022 and has the following account balances at year end Work in Process Inventory $15,390 Finished Goods Inventory 19,494 Cost of Goods Sold 67,716 Total costs $102,600 Close out the under applied Manufacturing Overhead using the proration method (List all debit entries before credit entries Credit account titles are automatically indented when the amount is entered Do not indent manually ) Account Titles and Explanation Debit Credit (To close under applied Manufacturing Overhead)

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Posted on Jul 17, 2024

List of Accounts Accounts Payable Accounts Receivable Accumulated Depreciation-Equipment Accumulated Depreciation-Factory Building Accumulated Depreciation-Machinery and Equipment Accumulated Depreciation-Office Building Accumulated Depreciation-Plant and Equipment Cash Cost

image text in transcribed List of Accounts

Accounts Payable
Accounts Receivable
Accumulated Depreciation-Equipment
Accumulated Depreciation-Factory Building
Accumulated Depreciation-Machinery and Equipment
Accumulated Depreciation-Office Building
Accumulated Depreciation-Plant and Equipment
Cash
Cost of Completed Work
Cost of Goods Sold
Depreciation Expense
Employer Fringe Benefits Payable
Employer Payroll Taxes Payable
Factory Labour
Factory Wages Payable
Finished Goods Inventory
Manufacturing Overhead
Operating Overhead
Payroll Liabilities
Prepaid Factory Property Taxes
Prepaid Factory Insurance
Raw Materials Inventory
Salaries Payable
Sales Revenue
Service Contracts in Process
Service Salaries and Wages
Supplies
Utilities Payable
Work in Process
Work in Process Inventory

Assume that Crane Manufacturing has $9,200 of under-applied Manufacturing Overhead at December 31, 2022 and has the following account balances at year end: Work in Process Inventory $15,390 Finished Goods Inventory 19,494 Cost of Goods Sold 67,716 Total costs $102,600 Close out the under-applied Manufacturing Overhead using the proration method. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit (To close under-applied Manufacturing Overhead)