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Question
A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that total 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 journal entry to apply the factory overhead costs for the year would include a
a. debit to Factory Overhead for $360,000
b. credit to Factory Overhead for $432,000
c. debit to Factory Overhead for $377,200
d. credit to Factory Overhead for $360,000
Answer
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