Brook Foundry uses a predetermined manufacturing overhead rate to allocate overh

Question

Brook Foundry uses a predetermined manufacturing overhead rate to allocate overhead to individual jobs based on the machine hours required. At the beginning of the year, the company expected to incur the following: ElB (Click the icon to view the costs.) Brook's accountant found an error in the expense records from the year reported. Depreciation on manufacturing plant and equipment was actualy $405,000, not the S490,000 that had originally been reported. The unadjusted Cost of Goods Sold balance at year-end was $620,000. The manufacturing overhead allocated to jobs was $448,000. Read the requirements. Requirement 1. Prepare the journal entry to record manufacturing overhead costs incurred. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Data Table Date Debit Credit 550000 Accumulated Depreciation-Plant and Equipment Wages Payable Property Tax Payable 490000 28000 18,000 Manufacturing overhead costs Direct labor cost Machine hours $550,000 $ 1,650,000 68,750 At the end of the year, the company had actually incurred the following Direct labor cost Depreclation on manufacturing plant and 1,210,000 490,000 18,000 27,000 17,000 11,000 equipment Property taxes on plant Sales salaries Delivery drivers' wages Plant janitors' wages Machine hours 56,000 hours hoose from any list or enter any number in the input fields and then click Check Answer. Print Done arts remaining Clear All Final Check

Explanation / Answer

Journal entry for manufacturing Overheads incurred: Date Accounts title and explanations Debit $ Credit $ Manufacturing Overheads Dr. 434000    Accumulated depreciation 405000     Wages payable 11000     Property tax payable 18000

Related Questions

Navigate

• Browse (All)
• Browse B
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.