Question
Matthew Company uses a job cost system. The overhead account shows a$5800 overallocated balance at the end of the year. Actual overhead incurred was$100,300. Other
Matthew Company uses a job cost system. The overhead account shows a$5800 overallocated balance at the end of the year. Actual overhead incurred was$100,300. Other balancesare:
Ending raw materials : $15,700
Work in process inventory at end of year : $32,300
Finished goods inventory at end of year : $47,100
Cost of goods sold for year: $282,900
The entry to close manufacturing overhead would include a
A.
debit toWork-in-Process Inventory account for$5,800.
B.
debit to Manufacturing Overhead account for$5,800.
C.
debit to Cost of Goods Sold account for$5,800.
D.
credit toWork-in-Process Inventory account for$5,800.
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