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H3Ko H3Ko
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7 years ago
Midtown, Inc. uses a predetermined overhead allocation rate of $67 per direct labor hour. In January, the company completed Job A23 which utilized 18 direct labor hours. Which of the following correctly describes the journal entry to allocate overhead to the job?
A) debit Work-in-Process Inventory $1,206 and credit Manufacturing Overhead $1,206
B) debit Cost of Goods Sold $67 and credit Finished Goods Inventory $67
C) debit Finished Goods Inventory $1,206 and credit Manufacturing Overhead $1,206
D) debit Manufacturing Overhead $67 and credit Work-in-Process Inventory $67
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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H3Ko Author
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#2
7 years ago
YES! Can't believe I got this one right. Appreciate the confirmation
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#3
3 years ago
Slight Smile
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#4
3 years ago
thank you
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#5
3 years ago
thank you
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