Oak Outdoor Furniture manufactures wood patio furniture. If the company reports
ID: 2334615 • Letter: O
Question
Oak Outdoor Furniture manufactures wood patio furniture. If the company reports the following costs for June 2018,
Wood $ 270,000
Nails, glue, stain 18,000
Depreciation on saws 5,300
Indirect manufacturing labor 45,000
Depreciation on delivery truck 1,700
Assemblyline workers' wages 51,000
what is the balance in the Manufacturing Overhead account before overhead is allocated to jobs? Assume that the labor has been incurred, but not yet paid. Prepare journal entries for overhead costs incurred in June. What is the balance in the Manufacturing Overhead account before overhead is allocated to jobs?
1.First, prepare an entry for the overhead costs for materials used.
2.Next, prepare an entry for the overhead costs for labor incurred.
3.Finally, prepare an entry for all other overhead costs.
Explanation / Answer
what is the balance in the Manufacturing Overhead account before overhead is allocated to jobs? Manufacturing Overhead Nails Glue Stain 18000 Depreciation of Saw 5300 Indirect Labour 45000 Balance 68300 1. First, prepare an entry for the overhead costs for materials used. Manufacturing Overhead 18000 To Raw material Inventory 18000 2. prepare an entry for the overhead costs for labor incurred. Manufacturing Overhead 45000 To Wages Payable 45000 3.Finally, prepare an entry for all other overhead costs Manufacturing OH 5300 To Accumulated Depreciation 5300
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