Refer to the data in exercise 8.

Requirement

R1. Journalize the entry to close out the companys Manufacturing overhead account.

8. The T-account showing the manufacturing overhead activity for Edith, Corp., for 2011 is as follows: nufacturing ovcrhea 99,000 215,000 Requirements R1. What is the actual manufacturing overhead? 199k R2. What is the allocated manufacturing overhead? 215k R3. What is the predetermined manufacturing overhead rate as a percentage of direct labor cost, if actual direct labor costs were $170,000? 126.47% R4. Is manufacturing overhead underallocated or overallocated? By how much? Qverallocated by 16k R5. Is Cost of goods sold too high or too low? Too high