The following information is available for Lock-tite company which produces special-order security products and uses a job order costing system.There is another section overhead absorption says determine whether there is over or under applied overhead Ch 2 question 10

Ched 10 Inventories Raw materials $ 49, 500 $ 65, 000 Work in process 11, 500 23, 900 Finished goods 69,500 48, 600 Activities and information for May Raw materials purchases (paid with cash) 223,000 3 Factory payroll (paid with cash) 371, 000 points Factory overhead Indirect materials 28,000 Indirect labor 93,000 eBook Other overhead costs 133,000 Sales (received in cash) 1,530,000 Hint Predetermined overhead rate based on direct labor cost 80% Print Determine whether there is over or underapplied overhead. Prepare the journal entry to allocate (close) overapplied or underapplied overhead to Cost of Goods Sold. Complete this question by entering your answers in the tabs below. Overhead General Absorption Journal Mc Graw Hill