Problem Applying Overhead; Journal Entries; Disposition of Underapplied or Overapplied Overhead LO LO LO
The following information is taken from the accounts of Foster Corp. The entries in the Taccounts are summaries of the transactions that affected those accounts during the year.
Manufacturing Overhead
ab
Bal.
Work in Progress
Bal. c
b
Bal.
Finished Goods
Bal. d
c
Bal.
Cost of Goods Sold
d
The overhead applied to production during the year is distributed among the ending balances in the accounts as follows:
Work in Process, ending $
Finished Goods, ending
Cost of Goods Sold
Overhead applied $
For example, of the $ ending balance in Work in Process, $ was overhead applied during the year.
