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Milsaps Company produces sportsmen?s digital scales. In preparing the current budget,
Milsaps? controller estimates a total of $278,000 in direct materials cost, $240,000 in direct
labor cost, and $360,000 in manufacturing overhead costs. Since much of the production
process requires skilled workers to assemble the scales, direct labor cost is used as the
overhead application base. At the end of the period, Milsaps reported actual results as
follows: direct materials cost of $313,000, direct labor cost of $193,000, and manufacturing
overhead cost $284,370.
What is Milsaps? predetermined overhead rate for the year?
Milsaps? predetermined overhead
How much manufacturing overhead did Milsaps apply during the year?
Don't show me this message again for the assignment
What is the journal entry to close overhead if the amount is considered to be insignificant? (Enter
debit entries first followed by credit entries. Credit account titles are automatically
indented when the amount is entered. Do not indent manually.)
Account and explanation
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