During December, Moulding Corporation incurred $76,000 of actual Manufacturing Overhead costs. During the same period, the Manufacturing Overhead applied to Work in Process was $74,000.Required:Prepare journal entries to record the incurrence of manufacturing overhead and the application of manufacturing overhead to Work in Process.
What will be an ideal response?
| Manufacturing Overhead | 76,000 | |||
| Various accounts | 76,000 | |||
| Work in Process | 74,000 | |||
| Manufacturing Overhead | 74,000 | |||
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