Actual manufacturing overhead: Property taxes Indirect labor Supervisory salaries Utilities Insurance Rental of space Indirect material (see data below) Indirect material: beginning inventory, January 1 Purchases during the year Ending Inventory, December 31 $231,000 200,000 59,00 79,000 48,000 94,000 63,000 Required: 1. Compute the firm's predetermined overhead rate, which is based on direct-labor hours (Round your answer to 2 decimal places) 2) calculate the overapplied or underapplied overheadfor the year. 3) Prepare a journal entry to close out the Manufacturing overhead account into cost of Goods sold.

Actual manufacturing overhead: Property taxes Indirect labor Supervisory salaries Utilities Insurance Rental of space Indirect material (see data below) Indirect material: beginning inventory, January 1 Purchases during the year Ending Inventory, December 31 $231,000 200,000 59,00 79,000 48,000 94,000 63,000 Required: 1. Compute the firm's predetermined overhead rate, which is based on direct-labor hours (Round your answer to 2 decimal places) 2) calculate the overapplied or underapplied overheadfor the year. 3) Prepare a journal entry to close out the Manufacturing overhead account into cost of Goods sold.

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Description: Please help me with required 1 and required 2 and required 3 I will give upvote thanku Required information[The following information applies to the questions displayed below.]The following information pertains to Trenton Glass Works for the year jus

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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