Prepare the adjusting journal entry

Reference no: EM131914867

Problem

Molly's Manufacturing recorded $100,000 in estimated manufacturing overhead during 2017.The actual manufacturing overhead was $90,000.The work in proccess inventory was $500,000, the finished goods inventory was $700,000 and the cost of goods sold was $800,000.

Required: Prepare the adjusting journal entry to adjust the under allocated manufacturing overhead and post it to the ledger.

Reference no: EM131914867

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