Question: Homework 2 0 - 4 Materials purchased on account $ 1 9 5 , 0 0 0 , and factory wages incurred $ 1 0

Homework 20-4 Materials purchased on account $195,000, and factory wages incurred

Homework 20-4
Materials purchased on account $195,000, and factory wages incurred $100,600.
Materials requisitioned and factory labor used by jobs for production:
Manufacturing overhead costs incurred on account $40,000.
Depreciation on factory equipment $16,550.
Depreciation on the company's office building was $14,300.
Manufacturing overhead rate is 72% of direct labor cost.
Jobs completed during the quarter: A20,A21, and A23.
Determine if overhead is over or under applied and make the required entry.
Prepare journal entries for the above transactions:
$100,600. Materials requisitioned and factory labor used by jobs for production: Manufacturing

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