Colorado company uses a job-order costing system account, Ask an Expert

Management Studies

Colorado Company uses a job-order costing system. Account balances at the end of the year were:

Raw materials Inventory $200,000

Work-In-Process Inventory 400,000

Finished Goods Inventory 600,000

Cost of Goods Sold 800,000

Manufacturing Overhead (credit: over applied) 90,000

What journal entry(s) are necessary to close the Manufacturing Overhead account if the amount in the account ($90,000) is all materials?

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M91389756

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