[bnickell0]

The following account appears in the ledger after only part of the postings have been completed for July, the first month of the current fiscal year:

Work in Process
Balance, July 1 53,200 |
Direct materials 147,000 |
Direct labor 120,000 |
Factory overhead is applied to jobs at the rate of 60% of direct labor cost. The actual factory overhead incurred for July was $75,000. Jobs completed during the month totaled $301,200
.
(a) Prepare the journal entries to record (1) the application of factory overhead to production during July and (2) the jobs completed during July.
(b) What was the balance of the factory overhead account on July 31?
(c) Was factory overhead overapplied or underapplied on July 31?
(d) Determine the cost of the unfinished jobs on July 31.
Present your answers and Journal entries in the space below

[bnickell0]

Need help to answer a-d.

[bnickell0]

Need help with the following questions:

The following account appears in the ledger after only part of the postings have been completed for July, the first month of the current fiscal year:
Work in Process
Balance, July 1 53,200 |
Direct materials 147,000 |
Direct labor 120,000 |
Factory overhead is applied to jobs at the rate of 60% of direct labor cost. The actual factory overhead incurred for July was $75,000. Jobs completed during the month totaled $301,200
.
(a) Prepare the journal entries to record (1) the application of factory overhead to production during July and (2) the jobs completed during July.
(b) What was the balance of the factory overhead account on July 31?
(c) Was factory overhead overapplied or underapplied on July 31?
(d) Determine the cost of the unfinished jobs on July 31.
Present your answers and Journal entries in the space below

[morgaine300]

Please do not double post your question, as it just confuses us and takes up more time.

Also please see the guidelines for posting homework in the red print at the top of this forum. You can't do b through d until a is done. What have you attempted on this?