Question 1: Determine the missing amounts.
MCH Corporation manufactures computers. Using a predetermined rate that is based on machine hours, MCH allocated manufacturing overhead cost $70,000,000 to jobs this year. At year end, the actualmanufacturing overhead cost incurred was reported as $110,000,000. What entry would MCH make in the Cost of Goods Sold and Manufacturing overhead account to close the manufacturing overhead account?
All the information in Question1 is already in chat, what you need to do is add/subtract
Those pictures maybe helps
I don’t think there is anything missing, i asked professor he said all need to do is add/subtract the numbers inside of chat.
if so, pls give me the rest of answers( and if you can, pls briefly show me the steps of calculations), thanks
Raw Materials Inventory Work-in-Process Inventory Finished Goods Inventory 27,000 36,000 7,000 12,000 3,000 Bal 4,000 Bal Bal 7,000 Accumulated Depreciation Accounts Payable Wages Payable 10,000 27,000 Manufacturing Overhead Cost of Goods Sold 3,000 1,000 10,000 12,000 2,000 Bal Ba. 31,000