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This is a cost accounting question.  What are the general ledger accounts required for the following scenario:  Applied overhead on the basis of 110% of direct labor costs?I think it might be applied overhead control, but I am unsure of the credit account.

Question

This is a cost accounting question.  

What are the general ledger accounts required for the following scenario:  Applied overhead on the basis of 110% of direct labor costs?

I think it might be applied overhead control, but I am unsure of the credit account.

check_circleAnswer
Step 1

General ledger is prepared to post the transactions of journal entries. It includes posting in debit & credit accounts.

Step 2

Journal entry for the transaction will be:

LF Debit ($)
Credit ($)
Sr. Particulars
no.
Work-in-process inventory (110% of
direct labor)
manufacturing overheads control
(to record applied overheads)
..
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LF Debit ($) Credit ($) Sr. Particulars no. Work-in-process inventory (110% of direct labor) manufacturing overheads control (to record applied overheads) ..

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Step 3

General ledger will be prepared according to the journal entry made for ...

Manufacturing overhead control account
Particular
(5)
Particular
By work-in progress a c
(5)
Date
Date
To balancing figure
help_outline

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Manufacturing overhead control account Particular (5) Particular By work-in progress a c (5) Date Date To balancing figure

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