To illustrate - Manufacturing Overhead Cost of Goods...

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To illustrate, assume that Wallace Manufacturing has a $2,500 credit balance in Manufacturing Overhead at December 31. The adjusting entry for the overapplied overhead is:
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Unformatted text preview: Manufacturing Overhead Cost of Goods Sold (To transfer overapplied overhead to cost of After Wallace posts this entry, Manufacturing Overhead has a zero balance....
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