Access Products, Inc., incurred the following actual overhead costs for the month of November.

Overhead is applied based on a predetermined rate of $24 per machine hour, and 5,100 machine hours were used during November.

Required:

a. Prepare a journal entry to record actual overhead costs for November. Assume that labor costs will be paid next month and that rent was prepaid.

b. Prepare a journal entry to record manufacturing overhead applied to jobs during November.

c. Create a T-account for manufacturing overhead, post the appropriate information from parts a

and b to this account, and calculate the ending balance.

d. Is manufacturing overhead overapplied or underapplied? Using the balance in the manufacturing overhead account calculated in part c, prepare the journal entry to close manufacturing overhead to cost of goods sold.

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Indirect materials Indirect labor $40,000 $36,000 $ 6,000 Equipment depreciation $ 13,000 Rent