At the end of 2008, Westmeier Corporation's accounts showed a $33,000 credit balance in Manufacturing Overhead Control. In addition, the company had a following account balance: Work In Process Inventrory $192,000 Finished Goods Inventory 48,000 Cost of Goods Sold 360,000
a. Prepare the necessary journal entries to close the overhead account if the balance is considered immaterial.
b. Prepare the necessary journal entries to close the overhead account if the balance is considered material.
c. Which method do you believe is more appropriate for the company and why?