Extracted text: Dacosta Corporation had only one job in process on May 1. The job had been charged with $2,200 of direct materials, $6,966 of direct labor, and $10,048 of manufacturing overhead cost. The company assigns overhead cost to jobs using the predetermined overhead rate of $19.20 per direct labor-hour. During May, the following activity was recorded: Raw materials (all direct materials): Beginning balance Purchased during the month Used in production $ 8,900 $38,400 $39,700 Labor: Direct labor-hours worked during the month 2,300 Direct labor cost incurred $24,910 $33,700 Actual manufacturing overhead costs incurred Inventories: Raw materials, May 30 Work in process, May 3e $17,041 Work in process inventory on May 30 contains $3,813 of direct labor cost. Raw materials consist solely of items that are classified as direct materials. The cost of goods manufactured for May was: Multiple Choice
Extracted text: Rieb Inc. has provided the following data for the month of September. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month. Cost of Goods Sold $ Total Work In Process Finished Goods $8,850 24,180 11,410 $ 44,440 $ 59,990 164,220 81,500 $ 305,710 $ 3,770 47,370 130,110 63,570 Direct materials Direct labor 9,930 6,520 $ 20,220 Manufacturing overhead applied Total $ 241,050 Manufacturing overhead for the month was overapplied by $7,450. The company allocates any underapplied or overapplied overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis of the overhead applied during the month in those accounts. Required: Provide the journal entry that would record the allocation of underapplied or overapplied among work in process, finished goods, and cost of goods sold. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the journal entry to allocate the underapplied or overapplied overhead among work in process, finished goods, and cost of goods sold.