The following costs are attributed to the Gandalf and Company:

Purchase of raw materials (all direct)

$291,100

Direct labour cost

141,800

Manufacturing overhead costs

198,100

Change in inventories:

Decrease in raw materials

$9,100

Decrease in work in process

4,100

Decrease in finished goods

13,200

Gandalf and Company used a 120% predetermined overhead rate based on direct labour cost.

Calculate the cost of goods manufactured.

.What was the cost of goods sold before adjusting for any under or over applied overhead?

.By how much was manufacturing overhead cost under or over applied?

a summary journal entry to close any under or over applied manufacturing overhead cost to cost of goods sold. Is such an entry appropriate in this situation?