Question: There are 1 problems in this set. I'm testing the problem. JE DATE GENERAL MOURNAL DERIT CREDIT GRADE Lemon Manufacturing estimated its factory overhead for

 There are 1 problems in this set. I'm testing the problem.

There are 1 problems in this set. I'm testing the problem. JE DATE GENERAL MOURNAL DERIT CREDIT GRADE Lemon Manufacturing estimated its factory overhead for January would be $15,000 and that they would use 75 hours of Direct Labor. The predetermined overhead rate was per direct labor hour. Date Transactions 2017/1/1 Lemon Manufacturing recorded actual factory overhead costs as follows: Indirect Labor $2.500 Indirect Materials $2.000 Factory Utilities $3,000 Accumulated Depreciation. EQUIPMEN $9,000 2017/1/31 2017/1/31 At the end of January, Lemon records overhead applied to jobs as follows: DL Hours Close FO Job 101 Job 102 Job 103 2017/1/31 Using the POR, make the entry to apply the Factory Overhead. Was the factory overhead over or underapplied and by how much? O Choose: -mount: TRIAL BALANCE CASH ACCOUNTS RECEIVABLE RAW MATERIALS WORK IN PROCESS FINISHED GOODS FACTORY OVERHEAD ACCUM. DEPR, QUIPMENT ACCOUNTS PAYABLE WAGES PAYABLE FACTORY UTILITIES PAYABLE COST OF GOODS SOLD TOTALS 2017/1/31 Normally, the over- or under-applied overhead would be closed to cost of Goods Sold at the end of the year. If the closing happened on 1/31/17, what entry would be made? Use lines 10 and 11 of the journal for this entry

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