Matthew Company uses a job cost system. The overhead account shows a $5,000 overallocated balance at the end of the year. Actual overhead incurred was
Matthew Company uses a job cost system. The overhead account shows a $5,000 overallocated balance at the end of the year. Actual overhead incurred was $100,800. Other balances are: Ending raw materials $15,400 Work in process inventory at end of year $32,200 Finished goods inventory at end of year $47,700 Cost of goods sold for year $282,300 The entry to close manufacturing overhead would include a (Z) debit to Manufacturing Overhead account for $5,000. debit to Cost of Goods Sold account for $5,000. debit to Work - in - Process Inventory account for $5,000. 55.696? credit to Work - in - Process Inventory account for $5,000
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