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27 June, 00:13

Give the entry to assign overhead to production for a given period, assuming that the overhead rate is 150 percent of direct labor cost and that $80,000 of direct labor cost was incurred in that period.

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  1. 27 June, 02:24
    0
    Dr. Cr.

    Work in process 120,000

    Production overhead 120,000

    Explanation:

    Given dа ta:

    Overheard rate = 150 percent

    Direct labor cost = $80,000

    Assigned Production overhead = Direct labor cost x Overheard rate

    Assigned Production overhead = $80.000 x 150%

    Assigned Production overhead = $80.000 x 1.50

    Assigned Production overhead = $120.000
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