Question
Winston Company estimates that total factory overhead for the following year will be $737,000. The company has decided that the basis for applying factory overhead
Winston Company estimates that total factory overhead for the following year will be $737,000. The company has decided that the basis for applying factory overhead should be machine hours, which is estimated to be 33,500 hours. The total actual machine hours for the year were 54,300 hours. The actual factory overhead for the year was $1,211,000. Enter the amount as a positive number.
a. Determine the total factory overhead applied during the year. $fill in the blank e66c7206a003fa1_1
b. Compute the over- or underapplied factory overhead for the year. $fill in the blank e66c7206a003fa1_2
overappliedunderapplied
c. Journalize the entry to close Factory Overhead to Cost of Goods Sold. If an amount box does not require an entry, leave it blank.
CashCost of Goods SoldFactory OverheadMaterialsWork in Process | - Select - | - Select - | |
CashCost of Goods SoldFactory OverheadMaterialsWork in Process | - Select - | - Select - |
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