Question: 2.Please solve this question as early as possible. 2) Weldin Inc. has provided the following data for the month Of October. There were no beginning

2.Please solve this question as early as possible.

2) Weldin Inc. has provided the following data for the month Of

2) Weldin Inc. has provided the following data for the month Of October. There were no beginning inventories; consequently , the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month. Work in process Finished goods Cost Of goods sold Direct material Direct labor Manufacturing Overhead applied Total 2550 1320 4670 15130 13350 35080 82620 36080 191600 Total 100300 87050 44000 231350 Manufacturing overhead incurred for the month was S47,000 Required: a. The company allocates any underapplied or overapplied overhead among work in process, finished goods, and cost Of goods sold at the end Of the month on the basis of the overhead applied during the month in those accounts. Provide the journal entry that would record the allocation Of underapplied or overapplied among work in process, finished goods, and cost Of goods sold. b. provide the journal entry if the company wants to close Out underapplied or overapplied overhead to cost Of goods sold. c. How much higher or lower will be net operating income ifthe company directly close Out underapplied or overapplied overhead to cost Of goods sold instead Of using allocation process? (Smarks)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!