During the month of August, Star Plastics applied overhead to jobs using an overhead rate...
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Accounting
During the month of August, Star Plastics applied overhead to jobs using an overhead rate of $3 per dollar of direct labor. Direct labor in August was $100,000. Actual overhead in August was $260,000. Assume that actual overhead was composed of the following items.
Actual Overhead and Overhead Applied to Jobs
Required
1-Prepare a journal entry to record overhead applied to jobs.
2-Prepare a journal entry to record actual overhead.
Indirect materials Indirect labor Utilities Depreciation Repair expense Total 40,000 80,000 25,000 60,000 55,000 260,000
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