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What is the journal entry when manufacturing overhead cost

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Reference no: EM132540795

A Company uses a job-order costing system and applies manufacturing overhead cost to jobs on the basis of the cost of materials used in production. At the beginning of the most recent year, the following estimates were made as a basis for computing the predetermined overhead rate for the year:

Manufacturing Overhead Cost 200,000

Direct Material Cost 160,000

(all purchases and services were on account). The following transactions took place during the year acquired

  1. Raw materials purchased: $86,000.
  2. Raw materials requisitioned for use in production (all direct materials): $98,000.

Question 1: What is the Journal Entry when Manufacturing overhead cost was applied to jobs as per company policy?

Reference no: EM132540795

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