Question: Record the journal entry to close over- or underapplied factory overhead to Cost of Goods Sold for each of the independent cases below.
JK Concert EL Home
Promotions Builders
Actual indirect materials costs . . . . . . . . $12,000 $ 6,500
Actual indirect labor costs . . . . . . . . . . . 56,000 46,500
Other overhead costs . . . . . . . . . . . . . . . 17,000 49,000
Overhead applied . . . . . . . . . . . . . . . . . . 96,200 106,800