Question: this is all the same question can you answer all please Luzadis Company makes furniture using the latest automated technology. The company uses a job-order

this is all the same question can you answer all please
this is all the same question can you answer all please Luzadis
Company makes furniture using the latest automated technology. The company uses a
job-order costing system and applies manufacturing overhead cost to products on the
basis of machine-hours. The predetermined overhead rate was based on a cost
Formula that estimates $1,207,000 of total manufacturing overhead for an estimated activity

Luzadis Company makes furniture using the latest automated technology. The company uses a job-order costing system and applies manufacturing overhead cost to products on the basis of machine-hours. The predetermined overhead rate was based on a cost Formula that estimates $1,207,000 of total manufacturing overhead for an estimated activity level of 71,000 machine-hours, During the year, a large quantity of furniture on the market resulted in cutting back production and a buildup of furniture in the company's warehouse. The company's cost records revealed the following actual cost and operating data for the year: Machine-hours 55,000 Manufacturing overhead cost $ 1,169,000 Inventories at year-end: Raw materials $ 11,000 Work in process (includes overhead applied of $46,750) $ 100,000 Finished goods (includes overhead applied of $187,000) $ 400,000 Cost of goods sold (includes overhead applied of $701,250) $ 1,500,000 Required: 1. Compute the underapplied or overapplied overhead. 2. Assume that the company closes any underapplied or overapplied overhead to Cost of Goods Sold. Prepare the appropriate journa entry. 3. Assume that the company allocates any underapplied or overapplied overhead proportionally to Work in Process, Finished Goods, and Cost of Goods Sold. Prepare the appropriate journal entry. 4. How much higher or lower will net operating income be if the underapplied or overapplied overhead is allocated to Work in Process Finished Goods, and Cost of Goods Sold rather than being closed to Cost of Goods Sold? 5 Required 1 Required 2 Required 3 Required 4 Compute the underapplied or overapplied overhead. Required 1 Required 2 Required 3 Required 4 Assume that the company closes any underapplied or overapplied overhead to Cost of Goods Sold. Prepare the appropriate journal entry. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet

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