Which One of the Following Journal Entries in a Standard

question 77

Multiple Choice

Which one of the following journal entries in a standard cost system would be used to apply standard factory overhead costs to production?

• A) A debit to the factory overhead account, at standard cost.
• B) A credit to the factory overhead account, at standard cost.
• C) A debit to WIP inventory, at actual cost.
• D) A credit to Finished Goods Inventory, at standard cost.
• E) A credit to WIP inventory, at standard cost.

---

Definitions:

Reengineering

The fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in critical measures of performance.

Statistical Method

A technique or procedure applied to numerical data for the purpose of analyzing, interpreting, or explaining statistical phenomena.

Employee Leasing

A practice where businesses hire their workers through a professional employer organization, which then handles HR, payroll, and other administrative tasks.

Labour Costs

The total expenses incurred by employers for the payment of wages, benefits, and other forms of compensation to employees.