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need some help finishing this one, Thanks in advance. Verizox Company uses a job order cost system with manufacturing overhead applied to products based on
need some help finishing this one, Thanks in advance.
Verizox Company uses a job order cost system with manufacturing overhead applied to products based on direct labor hours. At the beginning of the most recent year, the company estimated its manufacturing overhead cost at $178,560. Estimated direct labor cost was $462,720 for 19,200 hours. Actual costs for the most recent month are summarized here: Total Cost $ 46,273 Item Description Direct labor (1,920 hours) Indirect costs Indirect labor Indirect materials Factory rent Factory supervision Factory depreciation Factory janitorial work Factory insurance General and administrative salaries Selling expenses 2,490 3,300 3,340 4,850 5,640 1,220 1,740 4,130 5,450 Required: 1., 2. & 3-a. Prepare the journal entries for overhead. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Answer is complete but not entirely correct. No Transaction Debit Credit 1 a General Journal Work in Process Inventory Manufacturing Overhead 17,856 17,856 2 b 22,580 Manufacturing Overhead Raw Materials Inventory Salary and Wages Payable Accumulated Depreciation Accounts Payable >XX x 3,300 2.490 5,640 X 11,150 Cost of Goods Sold 4,724 Manufacturing Overhead 4,724Step by Step Solution
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