A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $360,000 and direct labor hours would be 30,000. Actual manufacturing overhead costs incurred were $377,200, and actual direct labor hours were 36,000. The entry to apply the factory overhead costs for the year would include a a.credit to Factory Overhead for $360,000 b.credit to Factory Overhead for $432,000 c.debit to Factory Overhead for $377,200 d.debit to Factory Overhead for $360,000

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $360,000 and direct labor hours would be 30,000. Actual manufacturing overhead costs incurred were $377,200, and actual direct labor hours were 36,000. The entry to apply the factory overhead costs for the year would include a
a.credit to Factory Overhead for $360,000
b.credit to Factory Overhead for $432,000
c.debit to Factory Overhead for $377,200
d.debit to Factory Overhead for $360,000
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