Direct Labor for the Month Is $52,000, and Overhead Is

question 38

Multiple Choice

Direct labor for the month is $52,000, and overhead is applied based on direct labor cost. Annual overhead is estimated to be $530,000, and annual direct labor is estimated to be $810,000. What is the entry to apply overhead to production? (Round intermediary calculations to two decimal places and your final calculations to the nearest whole dollar.)

• A) Debit Work-in-Process Inventory $33,800; credit Payroll Payable $33,800
• B) Debit Manufacturing Overhead-Applied $33,800; credit Work-in-Process Inventory $33,800
• C) Debit Work-in-Process Inventory $33,800 credit Manufacturing Overhead-Applied $33,800
• D) Debit Work-in-Process Inventory $52,000; credit Manufacturing Overhead-Applied $52,000

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Definitions:

Vocational Choice

The selection of a career or profession based on an individual's interests, skills, values, and the availability of opportunities in the job market.

External Locus Of Control

The belief that one's success or failure is due to external factors beyond their control.

Chance

Chance is the occurrence of events in the absence of any obvious intention or cause.

Fate

A predetermined course of events often considered to be beyond human control or influence.