Answer:
1. a would be the Actual Manufacturing cost for the year
b would be the Manufacturing Overhead applied to the Work in Process
c is the Cost of Goods Manufactured in the year
d is the Cost of Goods Sold as shown in the same named account.
2.
DR Cost of Goods Sold $83,328
CR Manufacturing Overhead $83,328
3.
DR Work in Process $5,472
Finished Goods $13,152
Cost of Goods sold $64,704
CR Manufacturing Overhead $83,328
Working
Overhead is distributed as follows;
Work in process = 27,360/ 416,640 * 83,328 = $5,472
Finished Goods = 65,760/ 416,640 * 83,328 = $13,152
Cost of Goods sold = 323,520/416,640 * 83,328 = $64,704
