Factory overhead was applied to completed jobs at the rate of 40% of direct labor costs. At the end of the year, several jobs were still in process. The job cost ledger shows direct labor costs of $7,000 . The proper journal entry for this adjustment is as follows:
a. A complete adjustment cannot be made due to lack of sufficient information.
b. Debit Factory Overhead $2,800, credit Work in Process Inventory $2,800.
c. Debit Work in Process Inventory $4,200, credit Factory Overhead $4,200.
d. Debit Factory Overhead $4,200, credit Work in Process Inventory $4,200.
e. Debit Work in Process Inventory $2,800, credit Factory Overhead $2,800.
e
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Which of the following is true regarding the Interstate Commerce Commission?
A. It was an executive agency. B. It was run by 10 commissioners. C. The commissioners served staggered six-year terms. D. Five of the commissioners were to be of any one political party.
Through the U.S. Generalized System of Preferences (GSP), developing countries may export goods duty-free to the United States if they ________
A) demonstrate progress toward protecting the natural environment B) demonstrate progress toward improving the rights of their workers C) agree to exempt U.S. imports from local content rules D) belong to the World Trade Organization (WTO) E) participate in a reciprocal free trade zone