Sweet Tooth Confectionary incurred $157,000 of manufacturing overhead costs during the year just ended. However, only $141,000 of overhead was applied to production. At the conclusion of the year, the following amounts of the year’s applied overhead remained in the various manufacturing accounts. Applied Overhead Remaining in Account on December 31Work-in-Process Inventory ......................................................$35,250Finished-Goods Inventory ..........................................................49,350Cost of Goods Sold .......................................................................56,400 Required: Prepare a journal entry to close out the balance in the Manufacturing Overhead account and prorate the balance to the three manufacturing accounts.
Sweet Tooth Confectionary incurred $157,000 of manufacturing
Applied Overhead
Remaining in Account
on December 31
Work-in-Process Inventory ......................................................$35,250
Finished-Goods Inventory ..........................................................49,350
Cost of Goods Sold .......................................................................56,400
Required: Prepare a
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