The following information was reported for Gray Enterprises on December 31, 2020. Manufacturing Overhead Debit Credit 3,410 51,520 15,030 37,090 Double line4,010 Double line A. What is the actual manufacturing overhead? B. What is the allocated manufacturing overhead? C. Is manufacturing overhead underallocated or overallocated? D. Prepare the adjusting entry. Journal Date Description Debit Credit Dec. 31, 20 Dec. 31, 20
The following information was reported for Gray Enterprises on December 31, 2020. Manufacturing Overhead Debit Credit 3,410 51,520 15,030 37,090 Double line4,010 Double line A. What is the actual manufacturing overhead? B. What is the allocated manufacturing overhead? C. Is manufacturing overhead underallocated or overallocated? D. Prepare the adjusting entry. Journal Date Description Debit Credit Dec. 31, 20 Dec. 31, 20
Financial & Managerial Accounting
13th Edition
ISBN:9781285866307
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter17: Job Order Costing
Section: Chapter Questions
Problem 9DQ
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Question
1. The following information was reported for Gray Enterprises on December 31, 2020.
ManufacturingOverhead
D. Prepare the adjusting entry.
Journal
2. The following information was reported for Gray Enterprises on December 31, 2021.
Manufacturing Overhead
D. Prepare the adjusting entry.
Journal
Manufacturing
Debit | Credit |
---|---|
3,410 | 51,520 |
15,030 | |
37,090 | |
Double line4,010 | Double line |
A. What is the actual manufacturing overhead? | B. What is the allocated manufacturing overhead? | C. Is manufacturing overhead underallocated or overallocated? |
---|---|---|
D. Prepare the adjusting entry.
Journal
Date | Description | Debit | Credit |
---|---|---|---|
Dec. 31, 20 | |||
Dec. 31, 20 |
2. The following information was reported for Gray Enterprises on December 31, 2021.
Manufacturing Overhead
Debit | Credit |
---|---|
2,020 | 56,340 |
15,540 | |
31,920 | |
Double line | Double line6,860 |
A. What is the actual manufacturing overhead? | B. What is the allocated manufacturing overhead? | C. Is manufacturing overhead underallocated or overallocated? |
---|---|---|
D. Prepare the adjusting entry.
Journal
Date | Description | Debit | Credit |
---|---|---|---|
Dec. 31, 20 | |||
Dec. 31, 20 |
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