Question

that affected those accounts during the year. Manufacturing Overhead 436,0(b) 498,69 Bal 44,880 Work in Progress 119,0() 224,680 129,B88 498,69 Bal 83e,888 Bal 122,880 Finished Goods Bal 181,889(d) 838,69 883,888 Bal 128,69 Cost of Goods Sold 883,690 The overhead applied to production during the year is distributed among the ending balances In the accounts as follows: Hork in Process, ending Finished Goods, ending Cost of Goods Sold $ 48,808 72,888 366,888 Overhead applied $488,808 For example, of the $122000 ending balance In Work In Process, $48,000 was overhead applied during the year.

Answer 1

Requirement 2 :
Journal Entry
Transactions	General Journal	Debit	Credit
1	Manfacturing Overhead A/c                      Dr.	$                              44,000.00
	To Work in progress		$                               4,400.00
	To Finished goods		$                               6,600.00
	To Cost of goods sold		$                              33,000.00
Explaination :
The overhead applied wil be allocated to the other accounts on tha basis of amount of overhead during the year in the ending balance of each account
		%
Work in progress	$                              48,000.00	10%
Finished goods ending	$                              72,000.00	15%
Cost of goods sols	$                            360,000.00	75%
	$                            480,000.00
Using these pecentages journal entry would be :
Work In process - 44000*10%		$                               4,400.00
Finished goods - 44000*15%		$                               6,600.00
Cost of goods sold - 44000*75%		$                              33,000.00