*** ANSWER QUESTIONS IN FORMAT PROVIDED ***

Sweet Tooth Confectionary incurred $159,000 of manufacturing overhead costs during the year just ended. However, only $145,000 of overhead was applied to production. At the conclusion of the year, the following amounts of the years applied overhead remained in the various manufacturing accounts.

	Applied Overhead Remaining in Account on December 31
Work-in-Process Inventory		$	21,750
Finished-Goods Inventory			50,750
Cost of Goods Sold			72,500

Required: Prepare a journal entry to close out the balance in the Manufacturing Overhead account and prorate the balance to the three manufacturing accounts. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Journal entry worksheet