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August 21, 2014

Homework Help: Accounting

Posted by Anonymous on Saturday, June 22, 2013 at 11:53pm.

During the period, labor costs incurred on account amounted to $250,000 including $200,000 for production orders and $50,000 for general factory use. In addition, factory overhead applied to production was $23,000. From the following, select the entry to record the factory overhead applied to production.
Answer

Work in Process 50,000
Factory Overhead 50,000

Factory Overhead 23,000
Work in Process 23,000

Work in Process 23,000
Factory Overhead 23,000

Factory Overhead 50,000
Accounts Payable 50,000

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