Blossom Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are estimated to total $293,250 for the year, and machine usage is estimated at 127,500 hours. For the year, $328,440 of overhead costs are incurred, and 132,600 hours are used. Manufacturing overhead rate $ Manufacturing Overhead $ -23,460 2.3 per machine hour Underapplied Prepare the adjusting entry to assign the under- or overapplied overhead for the year to cost of goods sold. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit
Blossom Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are estimated to total $293,250 for the year, and machine usage is estimated at 127,500 hours. For the year, $328,440 of overhead costs are incurred, and 132,600 hours are used. Manufacturing overhead rate $ Manufacturing Overhead $ -23,460 2.3 per machine hour Underapplied Prepare the adjusting entry to assign the under- or overapplied overhead for the year to cost of goods sold. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit
Chapter4: Job Order Costing
Section: Chapter Questions
Problem 10PB: The actual overhead for a company is $73,175. Overhead was based on 4,500 machine hours and was...
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
Transcribed Image Text:Blossom Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are estimated to total
$293,250 for the year, and machine usage is estimated at 127,500 hours.
For the year, $328,440 of overhead costs are incurred, and 132,600 hours are used.
Manufacturing overhead rate
$
Manufacturing Overhead
$
-23,460
2.3
per machine hour
Underapplied
Prepare the adjusting entry to assign the under- or overapplied overhead for the year to cost of goods sold. (List all debit entries
before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Account Titles and Explanation
Debit
Credit
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