The Journal Entry to Assign $1,700 of Direct Labor and $300

question 270

Multiple Choice

The journal entry to assign $1,700 of direct labor and $300 of indirect labor involves a debit to

• A)manufacturing overhead for $2,000.
• B)work in process inventory for $2,000.
• C)work in process inventory for $1,700 and a credit to manufacturing overhead for $300.
• D)work in process inventory for $1,700 and manufacturing overhead for $300.

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Definitions:

Ann Lee

A religious leader known for founding the Shakers, a Christian sect that emphasized simple living, celibacy, and communal living, in the late 18th century.

Market Revolution

A period of significant change in the United States during the early 19th century, characterized by the rapid expansion of capitalism and the development of a national market economy.

Cooperative Basis

A foundational principle for organizations or enterprises that are owned and run jointly by their members, who share the profits or benefits.

Private Property

The legal right to own, use, and manage property, which is protected by law from unauthorized use by others.