Recall that all the inventory accounts and the Cost of Goods Sold expense account have normal credit balances, so they all increase on the debit side and decrease on the credit side.
Actual manufacturing cost for the, 
manufacturing overhead applied to Work in process,
Cost of goods manufactured for the year        
cost of goods sold for the year
The manufacturing overhead control account has a debit balance because the actual overhead is more than the applied overhead. The journal entry must zero the control account.          
                 
 Journal Entry            
  General Journal                                Debit       Credit  
  Cost of goods sold                             70,000    
  Manufacturing overhead                                      70,000  
                 
                 
  Work in process	(70000*19500)/390000	3500    
  Finished goods	(70000*58500)/390000	10500    
  cost of goods sold	(70000*312000)/390000	56000    
  manufacturing overhead                70,000.
Learn more about Journal entries here:-brainly.com/question/28390337
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