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The Smith organization reported the following as of the end of the year Actual Overhead 200,000.00 Applied Overhead 320,000.00 Balance Before allocation of the variance
The Smith organization reported the following as of the end of the year Actual Overhead 200,000.00 Applied Overhead 320,000.00 Balance Before allocation of the variance Work in Process 100,000.00 Finished Goods Inventory 200,000.00 Cost of Goods Sold 300,000.00 The entry to close the overhead directly to the cost of goods sold would include what amout to the Cost of Goods Sold. The entry to close the overhead based on the ending balances before allocation would include what amout to the Cost of Goods Sold
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