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Question
Clemmens Company applies overhead based on direct labor cost. Estimated overhead and direct labor costs for the year were $112,500 and $125,000, respectively. During the year, actual overhead was $107,400 and actual direct labor cost was $120,000. The entry to close the over- or underapplied overhead at year-end, assuming an immaterial amount, would include:A.A debit to Cost of Goods Sold for $600.
B.A credit to Factory Overhead for $600.
C.A credit to Finished Goods Inventory for $600.
D.A debit to Work in Process Inventory for $600.
E.A credit to Cost of Goods Sold for $600.
Answer
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Variable manufacturing overhead
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