Identify the events that result in credit and debits to retained earnings .

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Sunflower Company uses a job order cost system and applies overhead based on estimated rates. The overhead application rate is based on total estimated overhead costs of $360,000 and direct labor hours of 60,000. During the month of February 2011, Job I-1 incurred direct labor of 700 hours. Use this information to make an example of the end-of-the-month application General Journal entry (without explanation) of factory overhead for Job I-1 for the month.

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Chapter 11, Problem 12Q

To determine

Identify the events that result in credit and debits to retained earnings.

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Sunflower Company uses a job order cost system and applies overhead based on estimated rates. The overhead application rate is based on total estimated overhead costs of $360,000 and direct labor hours of 60,000. During the month of February 2011, Job I-1 incurred direct labor of 700 hours. Use this information to make an example of the end-of-the-month application General Journal entry (without explanation) of factory overhead for Job I-1 for the month.

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