Question 7 Partialy correct Mark 1400 out of 1700 P Question Applied vs. Actual Manufacturing Overhead Sloan Manufacturing Corporation applies manufacturing overhead on the basis of 10% of direct labor cost. An analysis of the related accounts and job order cost sheet indicates that during the year total manufacturing overhead incurred was $210,000 and that at year end Work in Process inventory. Finished Goods inventory, and cost of Goods Sold included $30,000 $20,000, and $150,000, respectively, of direct labor incurred during the current year. a. Determine the over applied manufacturing overhead at year-end (assume it is significant), Applied Manufacturing Overhead Work in process 5 39,000 Fished goods 26,000 Cost of goods sold 195,000 Total: $ 260,000 Over-applied manufacturing overheads 50,000 b. Prepare a journal entry to record the disposition of the over-applied manufacturing overhead General Journal Description Debit Credit Manufacturing overhead 50,000 0 Work in process inventory 0 DX Finished goods inventory 30,000 x Cost of goods sold O 20,000 Check