Question
Applied vs . Actual Manufacturing Overhead Davis Manufacturing Corporation applies manufacturing overhead on the basis of 1 5 0 % of direct labor cost. An
Applied vs Actual Manufacturing OverheadDavis Manufacturing Corporation applies manufacturing overhead on the basis of 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 $ and that at yearend Work in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold included $ $ and $ respectively, of direct labor incurred during the current year.
a Determine the under applied manufacturing overhead at yearend assume it is significant
Applied Manufacturing Overhead
Work in process Answer
Finished goods Answer
Cost of goods sold Answer
Total: Answer
Underapplied manufacturing overhead $Answer
b Prepare a journal entry to record the disposition of the underapplied manufacturing overhead.
General Journal
Description Debit Credit
Answer
Work in process inventory
Answer
Answer
Answer
Finished goods inventory
Answer
Answer
Answer
Cost of goods sold
Answer
Answer
Answer
Manufacturing overhead
Answer
Answer
Davis Manufacturing Corporation applies manufacturing overhead on the basis of 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 $ and that at yearend Work in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold included $ $ and $ respectively, of direct labor incurred during the current year.
a Determine the under applied manufacturing overhead at yearend assume it is significant
Applied Manufacturing Overhead
Work in process Answer
Finished goods Answer
Cost of goods sold Answer
Total: Answer
Underapplied manufacturing overhead $Answer
b Prepare a journal entry to record the disposition of the underapplied manufacturing overhead.
General Journal
Description Debit Credit
Answer
Work in process inventory
Answer
Answer
Answer
Finished goods inventory
Answer
Answer
Answer
Cost of goods sold
Answer
Answer
Answer
Manufacturing overhead
Answer
Answer
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Intro To College Math Basic Arithmetic Geometry Algebra Probability And Stats
Authors: Nathan Frey
1st Edition
9781097384310
