Your answer is partially correct. Try again. Prepare the journal entry to close the overhead account. Assume that the underapplied and overapplied overhead was not material. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry Required" for the account titles and enter o for the amounts.) Account Titles and Explanation Debit Credit Manufacturing Overhead 4,346 Cost of Goods Sold 4,346 SHOW LIST OF ACCOUNTS x Your answer is incorrect. Try again. A customer brings her car to be fixed. She wants an estimate before she decides to have her car fixed. Ayayai estimates that the parts would cost $268, labour costs $44/hour for 3.00 hours. What is the cost of this job? Total Cost SHOW LIST OF ACCOUNTS x Your answer is incorrect. Try again. To provide a quote to a customer, Ayayai adds a 44% mark up on the full costs. What is the quote for the job in (D)? (Round answer to 0 decimal places, e.g. 5,275.) Quote SHOW LIST OF ACCOUNTS Exercise 5.24 Ayayai Auto Shop uses a normal job-costing system to allocate overhead on the basis of labour hours. For the current year, Ayayai estimated that the total overhead costs would be $66,600 and that the total labour hours would be 2,220. At the end of the year, Ayayai obtained the actual overhead costs from the ledger and found that the shop had incurred $60,844 and had worked 2,173 labour hours. Your answer is correct. Compute the predetermined (budgeted) overhead rate. Overhead Rate 30 SHOW LIST OF ACCOUNTS SHOW SOLUTION LINK TO TEXT LINK TO TEXT LINK TO TEXT Your answer is partially correct. Try again. Compute the overhead amount that was applied for the year. Was overhead underapplied or overapplied? 65,190 Applied Overhead Amount Overapplied SHOW LIST OF ACCOUNTS