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Question(s) / Instruction(s):

A manufacturing company applies overhead based on direct labor hours. At the beginning of the year, it estimated that overhead costs would be $720,000 and direct labor hours would be 90,000. Actual overhead costs incurred were $754,400, and actual direct labor hours were 92,000. The entry to assign overhead costs during the year would be

Choose one answer.

a. Overhead                   720,000 
     Cash                             720,000


b. Cash                         754,400 
     Overhead                             754,400


c. Overhead                   754,400 
     WIP Inventory                       754,400

d. WIP Inventory             736,000 
     Overhead                             736,000

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