Sloan Company produces uniforms. The company allocates manufacturing overhead based on the machine hours each job uses. Sloan Company reports the following cost data for the past year: (Click the icon to view the cost data.) Read the requirements. Requirement 1. Compute the predetermined manufacturing overhead rate. Enter the formula for predetermined manufacturing overhead rate, then compute the rate. + + Date Requirement 2. Calculate the allocated manufacturing overhead for the past year. X JULLE X = Accounts Predetermined overhead rate per machine hour Debit = = Requirement 3. Compute the underallocated or overallocated manufacturing overhead. How will this underallocated or overallocated manufacturing overhead be disposed of? First calculate the preliminary manufacturing overhead balance using the T-account. Manufacturing Overhead Close the under- or overallocated overhead to Cost of Goods Sold by journalizing the entry. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Manufacturing overhead allocated Credit Requirement 4. How can managers use accounting information to help control manufacturing overhead costs? To help control manufacturing overhead, managers compare the actual line item amounts for with the budgeted amounts. Managers will also investigate only between actual and budgeted amounts to identify the reasons why actual costs differences

Sloan Company produces uniforms. The company allocates manufacturing overhead based on the machine hours each job uses. Sloan Company reports the following cost data for the past year, (Click the icon to view the cost data.) Read the requirements. Requirement 1. Compute the predetermined manufacturing overhead rate. Enter the formula for predetermined manufacturing overhead rate, then compute the rate. Requirement 2. Calculate the allocated manulacturing overhead for the past year: Requirement 3. Compute the underallocated or overallocated manufacturing overhead. How will this underallocated or overallocated manufacturing overhead be disposed of? First calculate the preliminary manufacturing overhead balance using the T-account. Close the under- or overallocated overhead to Cost of Goods Sold by journalizing the entry. (Record debits first, then credits. Exclude explanations from any joumal entries.) Requirement 4. How can managers use accounting information to help control manufacturing overhead costs? To help control manufacturing overhead, managers compare the actual line item amounts for with the budgeted amounts. Managers will also investigate only differences between actual and budgeted amounts to identify the reasons why actual costs Data table