Exercise 3-36 Actual versus Normal Costing (LO 3-4, 3-5)

Exercise 3-36 actuarversus Normar costing (LU 3-4, 3-9) The following data pertain to the Onelda Restaurant Supply Company for the year just ended. Budgeted sales revenue Actual manufacturing overhead Budgeted machine hours (based on practical capacity) Budgeted direct-labor hours (based on practical capacity) Budgeted direct-labor rate Budgeted manufacturing overhead Actual machine hours Actual direct-labor hours Actual direct-labor rate $219.688 364,000 20.000 20.000 14 $336,000 11,000 18.000 $ 16 Required: Prepare a journal entry to add to work-in-process Inventory the total manufacturing overhead cost for the year, assuming: 1. The firm uses actual costing. 2. The firm uses normal costing, with a predetermined overhead rate based on machine hours. (If no entry is required for a transaction/event, select "No Journal entry required in the first account field.) View transaction lat Journal entry worksheet Record entry to add manufacturing overhead to work in process (assume firm uses actual costing). Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general Journal