Throughout the year, Factory Overhead at Michaels Camping Supply had the following activities: applied costs of $90,500
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Question:
Throughout the year, Factory Overhead at Michael’s Camping Supply had the following activities: applied costs of $90,500 and actual costs of $88,100 previous to the month of June. Use the information in Exercise 11 to determine if the factory overhead was under- or over applied as of the June 30 fiscal year-end. Also, prepare the journal entry required to account for the balance.
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