Pizza Corporation acquired $75$ percent of Slice Corporation$$s voting common stock on January $1,20$X$4,$ for $$349,000,$ when the fair value of its net identifiable assets was $$466,000$ and the fair value of the noncontrolling interest was $$117,000.$ Slice reported common stock outstanding of $$140,000$ and retained earnings of $$240,000.$ The excess of fair value over book value of Slice$$s net assets was attributed to amortizable assets with a remaining life of $10$ years. On December $31,20$X$4,$ Slice sold a building to Pizza and recorded a gain of $$23,000.$ Income assigned to the noncontrolling shareholders in the $20$X$4$ consolidated income statement was $$17,100.$ 

$$Prepare a journal entry to record the disposition of the underapplied manufacturing overhead

 

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There is no journal entry to record the disposition of the underapplied manufacturing overhead in th... View the full answer