Cisco Pool Service cleans and maintains residential pools and spas. At the beginning of the...
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Accounting
Cisco Pool Service cleans and maintains residential pools and spas. At the beginning of the year, the company estimated that it would incur $480,000 of direct labor cost and $288,000 of manufacturing overhead. Overhead is allocated to production on the basis of direct labor cost. Actual supplies (direct materials) used during the year were $58,000, actual direct labor cost was $465,000, and actual overhead was $281,000.
-Prepare the journal entry to record use of direct materials. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
-Prepare the journal entry to record direct labor. -Prepare the journal entry to record manufacturing overhead applied to production. -Prepare the journal entry to close the balance in manufacturing overhead to cost of goods sold.
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