Duggan Company applies manufacturing overhead to jobs on the basis of machine ho

Question

Duggan Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $342,360 for the year, and machine usage is estimated at 126,800 hours.

For the year, $360,097 of overhead costs are incurred and 131,800 hours are used. with 2.7 machine hours and 4237 underapplied hours Duggan Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $342,360 for the year, and machine usage is estimated at 126,800 hours. For the year, $360,097 of overhead costs are incurred and 131,800 hours are used. with 2.7 machine hours and 4237 underapplied hours Prepare the adjusting entry to assign the under- or overapplied overhead for the year to cost of goods sold. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Explanation / Answer

Duggan Company applies manufacturing overhead to jobs on the basis of machine ho

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