The following information relates to Wells Fargo for July 2008: Actual direct labour hours $80,000 actual direct
Fantastic news! We've Found the answer you've been seeking!
Question:
Actual direct labour hours $80,000
actual direct labour per hour $8
factory overhead rate per direct labour hour $12
factory overhead incurred $160,000
Assuming underapplied or overapplied overhead is transferred to cost of goods sold at the end of the period, which of the following would be the entry to the cost of goods sold account?
A $80 000 debit
B. $80 000 credit
C. $40 000 credit
D. $40 000 debit
Related Book For
Cornerstones of Financial and Managerial Accounting
ISBN: 978-1111879044
2nd edition
Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen
Posted Date: