Question - At the end of the year, but before an adjustment had been made to close Manufacturing Overhead Control, A-1 Frames had the following account balances:
Raw Materials Inventory - $ 126,831
Work in Process Inventory - $ 147,470
Finished Goods Inventory - $ 343,100
Cost of Goods Sold - $1,959,630
At the beginning of the year, management had estimated that total manufacturing overhead would be $550,940 and had planned to apply overhead to jobs based on an estimated use 42,380 of machine hours. The actual number of machine hours used during the year was 45,800, and actual manufacturing overhead cost for the year was $621,300.
How much overhead was applied to jobs during the year?