test Artisan Woodworking uses normal costing and allocates manufacturing overhead to jobs based on a budgeted labor-hour rate and actual direct labor-hours. Under- or overallocatec Click the loon to view the data) Read the requirements Requirement 1. Compute the budgeted manufacturing overhead rate. Enter the formula then enter the amounts to calculate the budgeted manufacturing overhead rate. Budgeted manufacturing Budgeted manufacturing overhead costs Budgolod quantity of cost-allocation base overhead rate 4000000 160000 25 Requirement 2. Prepare the summary Journal entry to record the allocation of manufacturing overhead (Record debits first, then credits. Exclude explanations from any journal entriem Journal Entry Accounts Debit Credit Requirement 3. Compute the amount of under- or overallocated manufacturing overhoad. In the amount significant enough to warrant proration of overhead costs, or should Arinan overallocated ovechend Enter the formula, then enter the amounts to calculate the over- of underalocated manufacturing overhoad (Uro puronthosen or a minus nign to report overallocated overhead) Underlocated (Overallocated) The to the amount significant enough to warrant protation of overhead costs, or should Artisan Woodworking write it off to cont of goods sold? amount of difference compared to manufacturing overhead costs allocated. If the quantities of work-In-process and finished goods investorle compared to not income Prepare the journal only to dispose of the under or overallocated overhead. (Record dobits frut, then credit Exclude explanations from any journal entries) Journal Entry Accounts Debit Credit -- Data Table $ 4,000,000 160,000 Budgeted manufacturing overhead costs Budgeted direct labor-hours Actual manufacturing overhead costs Actual direct labor-hours $ 4,112,000 165,000 Print Done Voodworking write it off to cost of goods sold? Prepare the journal entry to dispose of the under-or ories are the difference between proration and write off to Cost of Goods Sold account would t Budgeted manufacturing overhead costs Budgeted quantity of cost-allocation base 160000 4000000 Requirement 2. Prepare the summary journal entry to record the allocation of manufacturing overhe Journal Entry Accounts Debit Accounts Payable Control arhead. Is the amo Requiremeni overallocated Accounts Receivable Control Enter the forn Accumulated Depreciation Control nanufacturing over Cost of Goods Sold A is the amount Depreciation Expense Artisan Woodworkin The facturing overhead Finished Goods Control Manufacturing Overhead Allocated Manufacturing Overhead Control Prepare the ird debits first, then Materials Control Debit Miscellaneous Accounts e Text Pa Revenues Salary Fynenes
