A manufacturing enterprise applies factory overhead based on direct labor hours. At the beginning of the year, it was estimated that factory overhead costs would be $520,300 and direct labor hours would be 65,200. Actual manufacturing overhead costs incurred were $492,000, and actual direct labor hours were 62,000. The journal entry to apply the factory overhead costs for the year would include a___. a. debit to Factory Overhead for $318,000. b. credit to Factory Overhead for $411,280. c. credit to Factory Overhead for $494,760. d. debit to Factory Overhead for $368,730. Help

Can you explain the correct approach to solve this general accounting question?

subject=general accounting