O Managerial Accounting X file:///C:/Users/TEMP/Downloads/Managerial%20Accounting%20%20PDF Drive.com%20).pdf O of 734 Contents Pageview A Read aloud L Add notes - + Fit to width EXERCISE 5-13 Applying Overhead: Journal Entries, Disposition of Underapplied or Overapplied Overhead (LO4, LOS, LO7 The following information is taken from the accounts of Foster Corp. The entries in the T-accounts are summaries of the transactions that affected those accounts during the year. Manufacturing Overhead Work in Process (@) 380.000 40.000 106,000 ) 760000 Bol. 30.000 200 16000 40000 80000 Finished Goods 160.000 (0) 820.000 760.000 100.000 Cost of Goods Sold 820.000 Bal Bal The overhead applied to production during the year is distributed among the ending balances in the accounts as follows: Work in Process, ending Fnished Good andng Cost of Goods Sold... Overhead appled..... $ 32800 41000 336.200 $410.000 For example of the 580,000 ending balance in Work in Process, 532800 was overhead applied during the year Required: 1. Identify the reasons for entries (a) through (d). 2 The company allocates any balance in the Manufacturing Overhead account to the other accounts in proportion to the overhead applied during the year that is in the ending bal ance in each account. Prepare the necessary journal entry with supporting computations. O Managerial Accounting X file:///C:/Users/TEMP/Downloads/Managerial%20Accounting%20%20PDF Drive.com%20).pdf O of 734 Contents Pageview A Read aloud L Add notes - + Fit to width EXERCISE 5-13 Applying Overhead: Journal Entries, Disposition of Underapplied or Overapplied Overhead (LO4, LOS, LO7 The following information is taken from the accounts of Foster Corp. The entries in the T-accounts are summaries of the transactions that affected those accounts during the year. Manufacturing Overhead Work in Process (@) 380.000 40.000 106,000 ) 760000 Bol. 30.000 200 16000 40000 80000 Finished Goods 160.000 (0) 820.000 760.000 100.000 Cost of Goods Sold 820.000 Bal Bal The overhead applied to production during the year is distributed among the ending balances in the accounts as follows: Work in Process, ending Fnished Good andng Cost of Goods Sold... Overhead appled..... $ 32800 41000 336.200 $410.000 For example of the 580,000 ending balance in Work in Process, 532800 was overhead applied during the year Required: 1. Identify the reasons for entries (a) through (d). 2 The company allocates any balance in the Manufacturing Overhead account to the other accounts in proportion to the overhead applied during the year that is in the ending bal ance in each account. Prepare the necessary journal entry with supporting computations