Expenses are recorded when incurred

During the month, New Products Manufacturing incurred $47,000 in direct labor costs in Department 1, $26,000 direct labor costs in Department 2, and $3,500 of indirect labor costs

The summary journal entry to record these transactions includes a ________. A) credit to Manufacturing Overhead for $3,500 B) debit to Work-in-Process Inventory for $73,000 C) credit to Wages Payable for $73,000 D) debit to Work-in-Process Inventory-Department 2 for $26,000

In a self-managed team:

a. Leadership responsibilities often shift as members step up b. Managers are entirely absent from team processes c. Leadership is centralized d. Management retains the planning, scheduling, and monitoring activities, but allows teams to staff themselves e. There is no accountability