Patel Foundry uses a predetermined overhead allocation rate to allocate overhead to individual jobs, based on the machine hours required Click the icon to view the costs) Read the requirements Requirement 1. Compute Patel's predetermined overhead allocation rate, Predetermined overhead allocation rate per machine hour Requirement 2. Prepare the journal entry to allocate manufacturing overhead (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Dec 31 Choose from any list of enter any number in the input fields and then continue to the next question Patel Foundry uses a predetermined overhead allocation rate to allocate overhea (Click the icon to view the costs.) Read the requirements. Requirement 1. Compute Patel's predetermined overhead allocation rate. ntry to allocate manufacturing overhead. (R Actual machine hours Actual overhead cost Estimated machine hours Estimated overhead cost counts and Explanation Choose from any list or enter any number in the input fields and then continue Type here to search o Patel Foundry uses a predetermined overhead allocation rate to allocate overhead to individual job (Click the icon to view the costs.) Read the requirements Requirement 1. Compute Patel's predetermined overhead allocation rate. Predetermin allocati per tecord debits first, th Actual machine hours Requirement 2. Prepare the journal entry Actual overhead cost Date Account Estimated machine hours Dec 31 Estimated overhead cost Debit Choose from any list or enter any number in the input fields and then continue to the next questi Type here to search cate overhead to individual jobs, based on the machine hours required. Requirements - X gd 1. Compute Patel's predetermined overhead allocation rate. 2. Prepare the journal entry to allocate manufacturing overhead. 3. Post the manufacturing overhead transactions to the Manufacturing Overhead T-account. Is manufacturing overhead underallocated or overallocated? By how much? 4. Prepare the journal entry to adjust for the underallocated or overallocated manufacturing overhead. Does your entry increase or decrease Cost of Goods Sold? ent Print Done and then continue to the next question O undry uses a predetermined overhead allocation rate to allocate overhead to indi k the icon to view the costs.) requirements De Accounts and Explanation e 31 Cost of Goods Sold Finished Goods Inventory Manufacturing Overhead Plant Utilities ment 3. Raw Materials Inventory Wages Payable Work-in-Process Inventory and calcu rom any list or enter any number in the input fields and then continue to the r Type here to search quirements. Debit Credit Accounts and Explanation ent3 Adjusted MOH for underallocated overhead. Allocated overhead to WIP. Completed jobs, costs assigned to FG. Incurred labor, direct labor assigned to WIP, Indirect labor accumulated in MOH Incurred overhead, costs accumulated in MOH Purchased materials, accumulated in RM. Sold jobs, costs assigned to COGS Sold jobs on account From any Used materials direct materials assigned to WIP, indirect materials accumulated in MOH Type here to search o g ? 10 VIEWS Read the requirements Requirement 3. Post the manufacturing overhead transactions to the T-account and calculate the balance (Enter the ending balance on the last line.) Manufacturing Overhead Is manufacturing overhead underallocated or overalocated? By how much? Manufacturing overhead is by Requirement 4. Prepare the journal entry to adjust for the under allocated or overallocated manufacturing overhead. Does your entry increase or decrease cost explanation on the last line of the journal entry table.) Choose from any list or enter any number in the input fields and then continue to the next question Is manufacturing overhead underallocated or overalocated? By how much? Manufacturing overhead is Requirement 4. Prepare the journal entry to adjust for the underallocated or overallocated manufacturing overhead Does your entry increase or doce cost of goods sold? (Record debits first, then credits Select the explanation on the last line of the journal entry table) Date Accounts and Explanation Debut Credit Dec 31 Does your entry increase or decrease Cost of Goods Sold Choose from any ist or enter any number in the input Delds and then continue to the next question WAD600 TPM 10/10/20 Type here to search 9 Patel Foundry uses a predetermined overhead allocation rate to allocate overhead to individual jobs, based on the E (Click the icon to view the costs.) Read the requirements Manufacturing overhead is by Requirement 4. Prepare the journal entry to adjust for the underallocated or overallocated manufacturing overhead explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Dec 31 Does your entry increase or decrease Cost of Goods Sold? This entry Cost of Goods Sold Choose from any list or enter any number in the input fields and then continue to the next question Type here to search o RE CH hp esc * a II 2. # 3. $ 4 %
