Kercises
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Sweet Tooth Confectionary incurred $159,000 of manufacturing overhead costs during the year just ended. However, only $145,000 of
overhead was applied to production. At the conclusion of the year, the following amounts of the year's applied overhead remained in
the various manufacturing accounts.
Accounts
Applied Overhead
Remaining in Account
on December 31
Work-in-Process Inventory
Finished-Goods Inventory
Cost of Goods Sold
$ 29,000
43,500
72,500
Required:
Prepare a journal entry to close out the balance in the Manufacturing Overhead account and prorate the balance to the three
manufacturing accounts.
Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.
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Journal entry worksheet
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1
Record entry to close out the balance in the Manufacturing Overhead account
and prorate to manufacturing accounts.
Note: Enter debits before credits.
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