A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that tota factory overhead costs would be $343,800 and direct labor hours would be 44,100. Actual manufacturing overhead costs incurred were $320,700, and actual direct labor hours were 50,200. The journal entry to apply the factory overhead costs for the year would include a a. debit to Factory Overhead for $320,700 ▼ b. credit to Factory Overhead for $343,800 c. debit to Factory Overhead for $391,560 d. credit to Factory Overhead for $391,560
A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that tota factory overhead costs would be $343,800 and direct labor hours would be 44,100. Actual manufacturing overhead costs incurred were $320,700, and actual direct labor hours were 50,200. The journal entry to apply the factory overhead costs for the year would include a a. debit to Factory Overhead for $320,700 ▼ b. credit to Factory Overhead for $343,800 c. debit to Factory Overhead for $391,560 d. credit to Factory Overhead for $391,560
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 4E: The cost accountant for River Rock Beverage Co. estimated that total factory overhead cost for the...
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![A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that tota factory
overhead costs would be $343,800 and direct labor hours would be 44,100. Actual manufacturing overhead costs incurred were $320,700,
and actual direct labor hours were 50,200. The journal entry to apply the factory overhead costs for the year would include a
a. debit to Factory Overhead for $320,700 ▼
b. credit to Factory Overhead for $343,800
c. debit to Factory Overhead for $391,560
d. credit to Factory Overhead for $391,560](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7b593084-b26a-425b-9f79-efcbfbcc8ae0%2Fbef9c0c6-4e88-4a25-ba9e-91c84fd755f3%2F58wvd6_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that tota factory
overhead costs would be $343,800 and direct labor hours would be 44,100. Actual manufacturing overhead costs incurred were $320,700,
and actual direct labor hours were 50,200. The journal entry to apply the factory overhead costs for the year would include a
a. debit to Factory Overhead for $320,700 ▼
b. credit to Factory Overhead for $343,800
c. debit to Factory Overhead for $391,560
d. credit to Factory Overhead for $391,560
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