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enot [183]
3 years ago
13

Libby Company manufactures a single product by a continuous process, involving the production departments. The records indicate

that direct materials, direct labor, and applied factory overhead for Department 1 were $160,000, $125,000, and $150,000, respectively. The journal entry to record applied factory overhead is
Business
1 answer:
svlad2 [7]3 years ago
7 0

Answer:

Work In Process Account $150,000 (debit)

Overheads $150,000 (credit)

Explanation:

Overheads are included in Work In Process Account at their Applied Amounts .Thus a <em>Debit</em> in Work In Process Account and a <em>Credit</em> in Overheads Account is required for this entry.

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