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Selected cost data for DD Manufacturing are as follows:
Estimated manufacturing overhead cost for the year 100,000.00
Estimated direct labor costs for the year 80,000.00
Actual manufacturing overhead costs for the year 83,000.00
Actual direct labor costs for the year 64,000.00
Requirements
Compute the predetermined manufacturing overhead rate per direct labor dinar.
Prepare the journal entry to allocate overhead cost for the year.
Use a T-account to determine the amount of underallocated or overallocated manufacturing overhead.
Prepare the journal entry to close the balance of the Manufacturing Overhead account.
Answer & Explanation
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