Question
The manufacturing records for Brian's Boats at the end of the 2018 fiscal year show the following information about manufacturing overhead: Overhead allocated to production
The manufacturing records for
Brian's Boats
at the end of the
2018
fiscal year show the following information about manufacturing overhead:
| Overhead allocated to production | $394,800 |
|---|---|
| Actual manufacturing overhead costs | 431,000 |
| Predetermined overhead allocation rate | $42 per machine hour |
Read the requirements
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Requirement 1. How many machine hours did
Brian's Boats
use in
2018?
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Requirement 2. Was manufacturing overhead overallocated or underallocated for the year, and by how much?
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Requirement 3. Prepare the journal entry to adjust for the underallocated or overallocated manufacturing overhead. (Record debits first, then credits. Exclude explanations from any journal entries.)
| Date | Accounts | Debit | Credit | ||
| Dec. 31 |
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Accounting Principles Volume 1 And Volume 2
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
9th Canadian Edition
1119786649, 978-1119786641
