Homework Problem Prepare journal entries to record the following production activities for Sherman Manufacturing. a. Dec. 28 Incurred overhead costs of $79,000 (paid in cash). b. Dec 29 Applied overhead at 110% of direct labor costs which are $93,900. c. Dec 30 Transferred completed products with a cost of $258,200 to finished goods inventory. d. Dec 31 Sold $602,000 of product on credit. Cost is $271,000.
Homework Problem Prepare journal entries to record the following production activities for Sherman Manufacturing. a. Dec. 28 Incurred overhead costs of $79,000 (paid in cash). b. Dec 29 Applied overhead at 110% of direct labor costs which are $93,900. c. Dec 30 Transferred completed products with a cost of $258,200 to finished goods inventory. d. Dec 31 Sold $602,000 of product on credit. Cost is $271,000. ???????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????
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problem.docx