The Winston Company Estimates That the Factory Overhead for the Following

question 14

Essay

The Winston Company estimates that the factory overhead for the following year will be $1,250,000.The company has decided that the basis for applying factory overhead should be machine hours,which is estimated to be 50,000 hours.The total machine hours for the year were 54,300.The actual factory overhead for the year were $1,348,800.
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(a)Determine the total factory overhead amount applied.
(b)Calculate the over- or underapplied amount for the year.
(c)Prepare the journal entry to close Factory Overhead into Cost of Goods Sold.

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Definitions:

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Centers For Disease Control And Prevention (CDC)

A national public health institute in the United States, focused on preventing and controlling disease, injury, and disability.

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