Figure 4-7
The Cherokee Company uses a predetermined overhead rate. The following accounts have these unadjusted balances:
Raw Materials $20,000 Work in Process $40,000 Finished Goods $10,000 Cost of Goods Sold $50,000
-Thaisom Company applies manufacturing overhead. At the end of the year the following data were available: What is the journal entry if the amount of under- or over-applied overhead is considered small?

Question

Figure 4-7
The Cherokee Company uses a predetermined overhead rate. The following accounts have these unadjusted balances:
Raw Materials $20,000 Work in Process $40,000 Finished Goods $10,000 Cost of Goods Sold $50,000
-Thaisom Company applies manufacturing overhead. At the end of the year the following data were available:  What is the journal entry if the amount of under- or over-applied overhead is considered small?

Figure 4-7 The Cherokee Company Uses a Predetermined Overhead Rate. the Following