indow showrs whast is correct and incomect for the work you have completed so fo

Question

indow showrs whast is correct and incomect for the work you have completed so for lof the wrk you have done so fer is comect you may not hove complieted everything Cambridge MarutacumgConpary apples manufactring overhead onthe basis of machine hous Attho begningofthe year, the corpry estnated ts ? overt 269,800 and machine hours to be 14,200. Actual manufacturing overhead and machine hours wene $299,800 and 15.200, respectively cost to be O Answer is not complete. Cash, Payables 7 0 command option

Explanation / Answer

Solution :

Predetermined overhead rate = Estimated overhead / Estimated machine hours = $269,800 / 14200 = $19 per machine hours

Overhead applied = Actual machine hours * Predetermined overhead rate = 15200 * $19 = $288,800

Actual manufacturing overhead = $299,800

Underapplied overhead = $299,800 - $288,800 = $11,000

Journal Entries - Cambridge manufacturing company Event Transaction Particulars Debit Credit 1 a Manufacturing overhead Dr $299,800.00                To Cash $299,800.00 (To record manufacturing overhead incurred) 2 b Work In Process Inventory Dr $288,800.00                To Manufacturing overhead $288,800.00 (To record manufacturing overhead applied) 3 c Cost of goods sold Dr $11,000.00                To Manufacturing overhead $11,000.00 (To close underapplied overhead to COGS)

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