Question

Andrews Corporation had the following information about their Manufacturing Overhead account for the year ended December...


Andrews Corporation had the following information about their Manufacturing Overhead account for the year ended December 31, 2018:
Indirect materials
Indirect labor
Rent expense for the factory Utilities for the factory Supplies for the factory
Applied overhead for the period
$25,000 $52,000 $35,000
$8,000 $9,000
$135,000
Required:
1) Is the manufacturing overhead account over- or under-applied for the year?
2) By how much is the manufacturing overhead account over- or under-applied?
3) Prepare the adjusting entry to close the over- or under-applied overhead to Cost of Goods Sold.

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