Preparing the necessary journal entry

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At the end of 2008, Westmeier Corporation's accounts showed a $33,000 credit balance in Manufacturing Overhead Control. In addition, the company had the following account balances:

Work in Progress Inventory $192,000
Finished Goods Inventory 48,000
Cost of Goods Sold 360,000

a. Prepare the necessary journal entry to close the overhead account of the balance is considered immaterial.

b. Prepare the necessary journal entry to close the overhead account of the balance is considered material.

c. Which method do you believe is more appropriate for the company and why.

Reference no: EM13123303

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