File Home Insert Draw Page Layout Formulas Data Review View Help X Merriweather 12 A A Wrap Text Currency Paste BIy 15 A Merge & Center $ % 9 Undo Clipboard Font 12 Alignment 19 Number 89 EX fx 300000 Below are pre-deing ending balances as of Dec 31 Case out the ever or under allocated overhead using the mince method and the major method Calculate the Past Chasing balance for the listed accounts after performing the desing entries Start by cdndating how much overhead is over or under-allocated ACCOUNT PRE-CLOSING BALANCE TACCOUNTS FOR MANUFACTURING OVERHEAD CONTROL (MOC) AND MANUFACTURING OVERHEAD ALLOCATED (MOA) Raw Materiels Inventory S450.000 Manefactoring Overhead Control (MOC) Malartering Overhead Allocated (MOA) wock is Process lovestory $300.000 DEMY CREDIT DEBIT CREDIT shed Goods Invertery $400,000 $400,000 $710,000 $1,500,000 Ont of Goods Sed $1,300,000 RESPONSE AREA How much head is over-under-allocated? Maaturing Overhead Cert Manufacturing Over Allocated $210,000 Omer Under Allocated Record the changes to the Balance Sheet and Income Statement accounts using the Minor Approaching for closing out MOA and MOC ACCOXINT PRE-CLOSING BALANCE Raw Materials Inventory $450,000 Work in Process Inventory $300,000 Finished Goods Inventory $400,000 Revenue $1,500,000 Cost of Goods Sold $3,300,000 Manufacturing Overhead Control $610,000 Manufacturing Overbrad Allocated $710,000 MINOR APPROACH AMOUNT CHANGE POST CLOSING BALANCE MINOR APPROACH Recond the Journal Entry using the Minor Approach for closing out over- or under-allocated Ready INSTRUCTIONS Accessibility: Investigate overhead DEBIT Q1 Q2 CREDIT