Question

Xyz uses job costing. actual manufacturing overhead for the period is​ $20,200 while allocated manufacturing overhead is​ $18,500. what entry will close the manufacturing overhead​ balance?
a. debit the cost of goods sold account and credit the finished goods inventory account for​ $1,700.
b. debit the manufacturing overhead account and credit the cost of goods sold account for​ $1,700.
c. debit the cost of goods sold account and credit the manufacturing overhead account for​ $1,700.
d. debit the manufacturing overhead account and

Answer 1

Xyz uses job costing. actual manufacturing overhead for the period is​ $20,200 while allocated manufacturing overhead is​ $18,500. what entry will close the manufacturing overhead​ balance?

b. debit the manufacturing overhead account and credit the cost of goods sold account for​ $1,700.