Question 9 - Ch 3 Homework - C X Course Hero x | New Tab x | + ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.mheducation.com%252Fconnect%252Fltiwrapper%252FltiaCloseWindow.. * 0 Ch 3 Homework i Saved Help Save & Exit Submit Check my work Harwood Company uses a job-order costing system that applies overhead cost to jobs on the basis of machine-hours. The company's predetermined overhead rate of $2.40 per machine-hour was based on a cost formula that estimates $192,000 of total manufacturing overhead for an estimated activity level of 80,000 machine-hours. Required: 10 points 1. Assume that during the year the company works only 75,000 machine-hours and incurs the following costs in the Manufacturing Overhead and Work in Process accounts: Compute the amount of overhead cost that would be applied to Work in Process for the year and make the entry in your T-accounts. eBook 2A. Compute the amount of underapplied or overapplied overhead for the year and show the balance in your Manufacturing Overhead T-account. Print 2B. Prepare a journal entry to close the company's underapplied or overapplied overhead to Cost of Goods Sold. References Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Compute the amount of overhead cost that would be applied to Work in Process for the year and make the entry in your T-accounts. Manufacturing Overhead Work in Process (Maintenance) 21,000 (a) (Direct materials) 710,000 (Indirect materials) 8,000 (Direct labor) 90,000 (Indirect labor) 60,000 (Overhead) (a) (Utilities) 32,000 (Insurance) 7,000 (Depreciation) 56,000 Balance Mc 23 F L DOC - 10 Partly sunny Q Search PrtSc Delete XFA C ES F10 Insert S Backspace Num @ Lock O 3 W E R TQuestion 9 - Ch 3 Homework - C X Course Hero x New Tab * + - C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.mheducation.com%252Fconnect%252Fltiwrapper%252FltiaCloseWindow Ch 3 Homework i Saved Help Save & Ex Che Harwood Company uses a job-order costing system that applies overhead cost to jobs on the basis of machine-hours. The company's predetermined overhead rate of $2.40 per machine-hour was based on a cost formula that estimates $192,000 of total manufacturing overhead for an estimated activity level of 80,000 machine-hours. Required: 10 points 1. Assume that during the year the company works only 75,000 machine-hours and incurs the following costs in the Manufacturing Overhead and Work in Process accounts: Compute the amount of overhead cost that would be applied to Work in Process for the year and make the entry in your T-accounts. eBook 2A. Compute the amount of underapplied or overapplied overhead for the year and show the balance in your Manufacturing Overhead T-account. Print 2B. Prepare a journal entry to close the company's underapplied or overapplied overhead to Cost of Goods Sold. References Complete this question by entering your answers in the tabs below. Req 1 Req 27 Req 2B Compute the amount of underapplied or overapplied overhead for the year and show the balance in your Manufacturing Overhead T-Account from Req 1. manufacturing overhead MC 23 OF Q Search Partly sunny PriSc Insert Delete X 14 FZ FIO F11 F12 Backspac 8 O CO 4 5 P W R OQuestion 9 - Ch 3 Homework . C X Course Hero * |New Tab * + + - C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%2525%252Fconnect.mheducation.com%252Fconnect%252Fltiwrapper%252FltiaClose Ch 3 Homework i Saved Help Sa 9 Req 1 Req 2A Req 2B Prepare a journal entry to close the company's underapplied or overapplied overhead to Cost of Goods Sold. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 10 points View transaction list eBook Journal entry worksheet Print References 1 Record the entry to close the balance of the manufacturing overhead account to COGS account. Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry View general journal Grav 23 F Q Search OC - - 7 Q Partly sunny PriSc Insert Del FO F7 F11 F12 Back S O CO 5 8 O P