QS 15-18 (Algo) Computing and recording over- or underapplied overhead LO P4

A company applies overhead at a rate of 180% of direct labor cost. Actual overhead cost for the current period is $1,151,000, and direct labor cost is $630,000. 1. Compute the under- or overapplied overhead. 2. Prepare the journal entry to close over- or underapplied overhead to Cost of Goods Sold.

Required 1 Required 2 Compute the under- or overapplied overhead. W Factory Overhead Journal entry worksheet Record the entry to close over- or underapplied overhead. Note: Enter debits before credits. General Journal Debit Credit Transaction 1 Record entry Clear entry View general journal