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
a. Overhead 720,000
Cash 720,000
b. WIP Inventory 736,000
Overhead 736,000
c. Cash 754,400
Overhead 754,400
d. Overhead 754,400
WIP Inventory 754,400
B
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