The Anderson Company allocates manufacturing overhead to production based on machine hours. The following information is available for Anderson: Estimated manufacturing overhead $2,000,000 Actual manufacturing overhead $2,100,000 Estimated machine hours 125,000 Actual machine hours 140,000

REQUIRED:

Prepare the following journal entries: (1) Record the actual manufacturing overhead. (Use "various accounts" for the credit side of the entry.) Actual working process (2) Assuming that Anderson's overhead allocation rate is $18, record the overhead allocated to production. (3) Close the over or under allocation of overhead.