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please help & show work if applicable Aspen Company estimates its manufacturing overhead to be $512,000 and its direct labor costs to be $512,000 for
please help & show work if applicable
Aspen Company estimates its manufacturing overhead to be $512,000 and its direct labor costs to be $512,000 for year 2. Aspen worked on three jobs for the year. Job 2-1, which was sold during year 2. had actual direct labor costs of $220,995. Job 2-2 which was completed, but not sold at the end of the year had actual direct labor costs of $433,805. Job 2-3 which is still in work-in-process Inventory, had actual direct labor costs of $163,700. Actual manufacturing overhead for year 2 was $804,700, Manufacturing overhead is applied on the basis of direct labor costs. Required: Prepare an entry to allocate over- or underapplied overhead to Work in Process, Finished Goods and Cost of Goods Sold. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet A Record the allocation of over or underapplied overhead. Note Enter debts befort credits Transaction General Journal Debit Credit 1 cost of goods sold wished goods entory Work in process inventory Step by Step Solution
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