Factory overhead was applied to completed jobs at the rate of 40% of direct labor costs. At the end of the year, several jobs were still in process. The job cost ledger shows direct labor costs of $7,000 . The proper journal entry for this adjustment is as follows:
a. A complete adjustment cannot be made due to lack of sufficient information.
b. Debit Factory Overhead $2,800, credit Work in Process Inventory $2,800.
c. Debit Work in Process Inventory $4,200, credit Factory Overhead $4,200.
d. Debit Factory Overhead $4,200, credit Work in Process Inventory $4,200.
e. Debit Work in Process Inventory $2,800, credit Factory Overhead $2,800.
e
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A general ledger account that is supported by a subsidiary ledger is called a(n) ____________________
Fill in the blank(s) with correct word
In terms of ethical theory, lofty compensation packages have a utilitarian function when they act as incentives for executives to produce greater overall results.
Answer the following statement true (T) or false (F)
Management accounting
A) provides objective financial information B) must adhere to GAAP C) has no mandatory rules D) none of the other statements are true
Negligence actions involving hazardous materials are often difficult to prosecute successfully, primarily because ________
A) defenses such as comparative negligence are unavailable B) they are not as serious as nuisance actions C) the element of causation is easy to prove D) many of the pollutants do not cause immediate harm