PLEASE HELP AND SHOW WORK, please highlight answers, THANK YOU!!
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lculator Instruction Chart of Accounts Factory Overhead General Journal Instruction Winston Company estimates that the factory overhead for the following year will be $868,000. The company has decided that the basis for applying factory overhead should be machine hours, which is estimated to be 28,000 hours. The total machine hours for the year were 54,800 hours. The actual factory overhead for the year was $1,723,000. Required: a. Determine the total factory overhead amount applied. b. Compute the overapplied or underapplied amount for the year. Enter the amount as a positive value. c. Prepare the journal entry to close Factory Overhead into Cost of Goods Sold. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for spaces or journal explanations. Every line on a journal page is used for debit or credit entries. Do not add explanations or skip a line between journal entries. CNOW journals will automatically indent a credit entry when a credit amount is entered Chart of Accounts CHART OF ACCOUNTS Winston Company General Ledger ASSETS REVENUE 110 Cash 410 Sales 121 Accounts Receivable 610 Interest Revenue 131 Materials 133 Work in Process EXPENSES 135 Factory Overhead 137 Finished Goods 510 Cost of Goods Sold 520 Wages Expense 531 Insurance Expense 532 Utilities Expense 141 Supplies 142 Prepaid Expenses 181 Land 533 Office Supplies Expense 190 Factory Equipment 191 Accumulated Depreciation 560 Depreciation Expense 590 Miscellaneous Expense 710 Interest Expense LIABILITIES 181 Land 533 Office Supplies E 560 Depreciation Exp 190 Factory Equipment 191 Accumulated Depreciation 590 Miscellaneous Ex 710 Interest Expense LIABILITIES 210 Accounts Payable 221 Utilities Payable 251 Wages Payable EQUITY 311 Common Stock 340 Retained Earnings 351 Dividends 390 Income Summary All work saved. Factory Overhead a. Determine the total factory overhead amount applied. Total factory overhead applied $ Instruction Chart of Accounts Factory Overhead General Journal General Journal e Prepare the journal entry to close Factory Overhead into Cost of Goods Sold on December 31. Refer to the chart of accounts for the exact wording of the account titles CHOWjoum for spaces or journal explanations. Every line on a journal page is used for debitor credit entries. Do not acel explanations or skip a line between journal entries CHOW journals wila credit entry when a credit amount is entered PAGE 1 JOURNAL DATE DESCRIPTION POST REF DEBIT CREDIT The balanced Scorecard for a service company American Express Company is a major financial services company noted for its American Express card. Some of the performance measures used by the company on its balanced scorecard are listed below. For each measure, identify whether the measure best fits the learning and growth, internal processes, customer, or financial performance perspective of the balanced Scorecard. Performance Metric Performance Perspective Average card member spending Number of Internet features Cards in force Customer Number of merchant signings Financial Earnings growth Internal processes Number of new card launches Hours of credit consultant training Learning and growth Return on equity Investment in information technology Revenue growth Number of card choices
