Time tickets indicated 900 labor hours in the production of Job .115, out of which 600 were direct labor hours. The company pays $8 p each labor hour. The entry to record this transaction is: * A debit to Work in Process Inventory $4,800, a debit to manufacturing overhead $2,400, and a credit to Factory Labor $7,200 A debit to Work in Process Inventory $7,200 and a credit to Factory Labor $7,200 A debit to Factory Labor $4,800, a debit to manufacturing overhead $2,400, and a credit to Work in Process Inventory $7,200 O None of the above POM QM

Time tickets indicated 900 labor hours in the production of Job .115, out of which 600 were direct labor hours. The company pays $8 p each labor hour. The entry to record this transaction is: * A debit to Work in Process Inventory $4,800, a debit to manufacturing overhead $2,400, and a credit to Factory Labor $7,200 A debit to Work in Process Inventory $7,200 and a credit to Factory Labor $7,200 A debit to Factory Labor $4,800, a debit to manufacturing overhead $2,400, and a credit to Work in Process Inventory $7,200 O None of the above POM QM

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Waterway Manufacturing assigns overhead based on machine hours. Department R records 608 machine hours, while Department W records 392 machine hours for the period. The overhead rate is $6 per machine hour. What will the entry to assign overhead include? Select answer from the options below A debit to Manufacturing Overhead for $6000. A credit to Manufacturing Overhead for $6000. A debit to Work in Process Inventory-Department W for $2352. A credit to Work in Process Inventory-Department R for $3648.
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