Prepare journal entries to transfer overapplied and, Ask an Expert

Accounting

Company
Paper Rock Scissors
Machine Hours 100000 210000 125000
Direct Labor hours 50000 48000 39000
Direct Labor Cost 800000 735000 410000
Manufacturing overhead cost 400000 432000 375000

Actual Hours and Cost

Paper Rock Sissors
Manufacturing overhead 450000 400000 375000
Direct Labor Cost 850000 700000 400000
Direct Labor hours 45000 46000 38000
Machine Hours 105000 200000 130000

a. Compute overapplied and underapplied overhead for each company.
b. Prepare journal entries to transfer overapplied and underapplied overhead to cost of goods sold for each company.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9101079

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