Exercise 3-8 Applying Overhead; Journal Entries; Disposing of Underapplied or Overapplied Overhead [LO3-1, LO3-2, L03-4] The following information is taken from the accounts of Latta Company. The entries in the T-accounts are summaries of the transactions that affected those accounts during the year. Manufacturing Overhead 497,664 (b) 82,944 Work in Process 6,280 (c) 316,000 93,000 414,720 56,000 Finished Goods 34,000 (d) 774,000 136,000 (a) 414,720 Bal. 774,000 Bal. (c) Bal. 672,000 Bal. (b) Bal. Cost of Goods Sold (p). 672,000|| The overhead that had been applied to production during the year is distriputed among Work in Process, Finished Goods, and Cost of Goods Sold as of the end of the year as follows: Work in Process, ending Finished Goods, ending Cost of Goods Sold $ 26,880 65,280 322,560 $ 414,720 Overhead applied
Exercise 3-8 Applying Overhead; Journal Entries; Disposing of Underapplied or Overapplied Overhead [LO3-1, LO3-2, L03-4] The following information is taken from the accounts of Latta Company. The entries in the T-accounts are summaries of the transactions that affected those accounts during the year. Manufacturing Overhead 497,664 (b) 82,944 Work in Process 6,280 (c) 316,000 93,000 414,720 56,000 Finished Goods 34,000 (d) 774,000 136,000 (a) 414,720 Bal. 774,000 Bal. (c) Bal. 672,000 Bal. (b) Bal. Cost of Goods Sold (p). 672,000|| The overhead that had been applied to production during the year is distriputed among Work in Process, Finished Goods, and Cost of Goods Sold as of the end of the year as follows: Work in Process, ending Finished Goods, ending Cost of Goods Sold $ 26,880 65,280 322,560 $ 414,720 Overhead applied
Chapter4: Job Order Costing
Section: Chapter Questions
Problem 9PB: Mountain Tops applies overhead on the basis of direct labor hours and reports the following...
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