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Unformatted text preview: debit Manufacturi (d) credit Raw Materi Answer: (b) debit Finished Goods Inventory. The entry when direct factory labor is assigned to jobs is a debit to: (a) Work in Process Inventory and a credit to Factory Labor. (b) Manufacturing Overhead and a credit to Factory Labor. (c) Factory Labor and a credit to Manufacturing Overhead. (d) Factory Labor and a credit to Work in Process Inventory. Answer: (a) Work in Process Inventory and a credit to Factory Labor. The formula for computing the predetermined manufacturing overhead rate is estimated annual overhead costs divided by an expected annual operating activity, expressed as: (a) direct labor cost. (b) direct labor hours. (c) machine hours. (d) any of the above. Answer: (d) any of the above....
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- Fall '11
- overhead rate, Materials Requisition, Factory Labor, Process Inventory, time tickets