Bosshart Inc. provided the following data for May. There was no initial inventory; as a result, all of the direct materials, direct labor and manufacturing overheads listed below are for the current month.

	Work In Progress			Finished goods			cost of goods sold			Total
Direct materials	$	10.670		$	12.000		$	81.120		$	103.790
direct labor		11.630			15.000			101.400			128.030
Production overhead applied		9.680			9.680			68.640			88.000
Total	$	31.980		$	36.680		$	251.160		$	319.820
The manufacturing overhead for the month was underapplied with $6,000. The company distributes the under- or over-applied general production expenses in these accounts over the general production expenses applied during the month between the ongoing products, finished goods and the cost of goods sold at the end of the month.

Record the journal entry for the allocation of under-applied or over-applied production overheads for May.

Answer rating: 100% (QA)

Step 1 Calculate the total costs of Work In Progress Finished Goods and Cost of Goods Sold for May T... View the full answer