Question

Munos Publishing Company uses a job-order costing system to collect costs related to the manufacture of specialty publications for corporate training.What journal entry would Munos make to record $9,500 of depreciation on its printing presses?A)Work in Process____________9.500___Applied Manufacturing Overhead___9,500B) Depreciation Expense________9,500___Accumulated Depreciation_______9,500C) Manufacturing Overhead________9,500___Accumulated Depreciation__________9,500D) Manufacturing Overhead________9,500___Depreciation Expense_____________9,500

Answer 1

Answer:

C) Manufacturing Overhead 9,500 DEBIT

           Accumulated Depreciation              9,500 CREDIT

Explanation:

The depreciation will be part of the actual overhead, which later will be compared with the applied overhead to look up for difference in application.

It will denefitive be accumulated to represent the net book value of the printing.

Then t will be debited to factory overhead. So once the period is concluded this account will have a balance equal to the difference in application of overhead (credit) and the actual cost incurred (debit)