Olympia Company incurred actual manufacturing overhead costs of $630,000 during the year ended December 31,2012. A total of $570,000 in overhead was applied to jobs. At December 31,2012, work-in-process inventory totals $200,000, and finished goods inventory totals $400,000. Costs of goods sold before adjustments totals $1,400,000 for the year.

	WIP	200,000
	F. Goods	400,000
	COGS	1,400,000
Required:
2. Create a T account for the manufacturing overhead.
3. Create the journal entry to close the manufacturing overhead account, assuming the amount is material.