Safari File Edit View History Bookmarks Window Help C-\' 94%.\": Fri 3:39 PM Hom

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Safari File Edit View History Bookmarks Window Help C-' 94%.": Fri 3:39 PM Home Question 3 (of 5 Save& Exit Subit 3. 20.00 points labor hours Altl the beginsing of the most recent year, the company ostimated its manudacturing Verizox Company uses a job order cost system with manufacturing overhead appliled to products based on direct overhead cost at$181,450. Estimated drect labor cost was $466,040 for 19,100 hours Actual costs for the most recent month are summarized here Total Coat 46,805 Dinect labor (1,910 hours ndirect labor Factory rent Factory supervision Factory jantoral work 5,490 Selling expenses 1,2.&3-a Prepare the jounal entries for overthead. (of ne entry is required for a transactionievent, select "No Journal Entry Required" in the first account feld,)

Explanation / Answer

Estimated manufacturing ovverhead cost 181450 Estimated direct labor hours 19100 Predetermined ovehead rate 9.5 per direct labor 1 Work in progress inventory 18145 (9.5*1910)                Manufacturing overheads 18145 2 Manufacting overheads 22550             Raw material inventory 3440              Wages payable 2440              Prepaid rent 3320                  Accumulated depreciation 5650              Prepaid insurance 1710              Salaries payable 4760              Accounts payable 1230 3 Cost of goods sold 4405 (22550-18145)             Manufacturing overheads 4405 (underapplied overheads )

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