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Please explain and help fill out in that format, thanks Actual and Applied Manufacturing Overhead. Brody Company incurred the following actual overhead costs for the
Please explain and help fill out in that format, thanks
Actual and Applied Manufacturing Overhead. Brody Company incurred the following actual overhead costs for the month of February: Overhead is applied based on a predetermined rate of $2 per direct labor dollar ( 200 percent of direct labor cost), and direct labor costs were $300,000 for the month. Required: a. Prepare a journal entry to record actual overhead costs for February. Assume indirect labor costs and utilities will be paid next month. b. Prepare a journal entry to record manufacturing overhead applied to jobs during February. c. Create a T-account for manufacturing overhead, post the appropriate information from requirements a and b to this account, and calculate the ending balance. d. Is manufacturing overhead overapplied or underapplied? Using the balance in the manufacturing overhead account calculated in requirement c, prepare the journal entry to close manufacturing overhead to cost of goods sold. Actual and Applied Manufacturing OverheadStep by Step Solution
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