Record the actual manufacturing overhead cost incurred

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Question - Verizox Company uses a job order cost system with manufacturing overhead applied to products based on direct labor hours. At the beginning of the most recent year, the company estimated its manufacturing overhead cost at $187,000. Estimated direct labor cost was $465,630 for 18,700 hours.

Actual costs for the most recent month are summarized here:

Item Description

Total Cost

Direct labor (1,870 hours)

$46,564

Indirect costs

 

Indirect labor

2,500

Indirect materials

3,370

Factory rent

3,290

Factory supervision

4,750

Factory depreciation

5,720

Factory janitorial work

1,290

Factory insurance

1,850

General and administrative salaries

4,170

Selling expenses

5,310

Required: Journal entries for overhead. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

Record the application of manufacturing overhead to production.

Record the actual manufacturing overhead cost incurred.

Record the transfer of manufacturing overhead account balance to cost of goods sold.

Reference no: EM131870727

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