Your company incurred actual overhead costs during the last fiscal year totaling $225,000.However, the applied overhead was
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Your company incurred actual overhead costs during the last fiscal year totaling $225,000.However, the applied overhead was $240,000.The balance in the various accounts at the end of the year is:
Work in Process$45,780
Finished Goods$60,200
Cost of Goods Sold$180,300
Provide the final adjusting or closing entries (in T account format) for the manufacturing overhead account.
Related Book For
Intermediate Accounting
ISBN: 978-1119048534
11th Canadian edition Volume 1
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy
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