The adjusted ledger accounts of RD Consulting on December 31, 2013, appear as follows. All accounts have normal balances and adjusting entries have been made. Extend the balances to the Balance Sheet and Income Statement columns of the worksheet. Then, journalize the closing entries on page 4 of a general journal. 
Definitions:
Predetermined Overhead Rate
A calculated rate used to apply manufacturing overhead costs to products, based on estimated costs and activity levels before a period begins.
Predetermined Overhead Rate
A rate used to allocate manufacturing overhead to individual products or job orders, based on a set formula prior to the start of a period.
Manufacturing Overhead
Indirect costs related to the production process, such as equipment maintenance and factory rent.
Labor-Hours
A measure of the work effort in hours contributed by labor to produce a unit or complete a process.
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