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Author Question: Daniel Company uses a job cost system. The overhead account shows a $4,500 overallocated balance at ... (Read 69 times)

bcretired

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Daniel Company uses a job cost system. The overhead account shows a $4,500 overallocated balance at the end of the year. Actual overhead incurred was $95,000. Other balances are:

Ending raw materials $10,000
Work in process inventory at end of year 30,000
Finished goods inventory at end of year 45,000
Cost of goods sold for year $275,000

The entry to close manufacturing overhead would include a
◦ debit to manufacturing overhead for $4,500.
◦ credit to manufacturing overhead for $4,500.
◦ credit to cost of goods sold for $4,500.
◦ debit to cost of goods sold for $4,500.


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Marked as best answer by bcretired on Jan 4, 2020

batool

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bcretired

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Reply 2 on: Jan 4, 2020
Wow, this really help


kishoreddi

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Reply 3 on: Yesterday
Gracias!

 

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