Figure 4-7 The Cherokee Company Uses a Predetermined Overhead Rate. the Following

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Figure 4-7
The Cherokee Company uses a predetermined overhead rate. The following accounts have these unadjusted balances:
Raw Materials $20,000 Work in Process $40,000 Finished Goods $10,000 Cost of Goods Sold $50,000
-Refer to Figure 4-7. If overhead is underapplied by $12,000 and considered immaterial, the journal entry would be Figure 4-7 The Cherokee Company uses a predetermined overhead rate. The following accounts have these unadjusted balances: Raw Materials $20,000 Work in Process $40,000 Finished Goods $10,000 Cost of Goods Sold $50,000 -Refer to Figure 4-7. If overhead is underapplied by $12,000 and considered immaterial, the journal entry would be

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