Solution-Compute the balance in the manufacturing overhead

Compute the balance in the manufacturing overhead account

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Reference no: EM132805106

Question - Bodin Company manufactures finger splints for kids who get tendonitis from playing video games. The firm had the following inventories at the beginning and end of the month of January.

	January 1	January 31
Finished goods	$126,000	$117,000
Work in process	235,000	251,000
Raw material	132,000	124,000

The following additional data pertain to January operations.

Raw material purchased $192,000

Direct labor 400,000

Actual manufacturing overhead 170,000

Actual selling and administrative expenses 110,000

The company applies manufacturing overhead at the rate of 60 percent of direct-labor cost. Any overapplied or underapplied manufacturing overhead is accumulated until the end of the year.

Required - Compute the balance in the manufacturing overhead account on January 31. Debit or credit?

Reference no: EM132805106

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Compute the balance in the manufacturing overhead account

Reference no: EM132805106

Reference no: EM132805106

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