at the end of 2023 the allocated manufacturing overhead cost was 1100,000 and the actual...

90.2K

Verified Solution

Question

Accounting

at the end of 2023 the allocated manufacturing overhead cost was 1100,000 and the actual one was 1035,000. The ending balances were cost of goods sold 70,000; finished goods 22,000 and work in process 8,000.

Instruction: Calculate the over/under allocated balance and prepare the adjusted entry if the differences were material.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students