CK Venkat Chemicals had incurred labor costs incurred on account during this per
ID: 2498021 • Letter: C
Question
CK Venkat Chemicals had incurred labor costs incurred on account during this period. The amount was $225,000 including $195,000 for production orders and $30,000 for general factory use. In addition, factory overhead applied to production was $17,000. Which of the following entries will CK Venkat use to record the factory overhead applied to production.
a.
Work in Process 30,000
Factory Overhead 30,000
b.
Factory Overhead 17,000
Work in Process 17,000
c.
Work in Process 17,000
Factory Overhead 17,000
d.
Factory Overhead 30,000
Accounts Payable 30,000
a.
Work in Process 30,000
Factory Overhead 30,000
b.
Factory Overhead 17,000
Work in Process 17,000
c.
Work in Process 17,000
Factory Overhead 17,000
d.
Factory Overhead 30,000
Accounts Payable 30,000
Explanation / Answer
In the given options correct journal entry is not there. Actual journal entry to be recorded is
Factory Overhead 30,000
Wages Payable 30,000