Which one of the following journal entries in a standard cost system would be used to apply standard factory overhead costs to production?
A) A debit to the factory overhead account, at standard cost.
B) A credit to the factory overhead account, at standard cost.
C) A debit to WIP inventory, at actual cost.
D) A credit to Finished Goods Inventory, at standard cost.
E) A credit to WIP inventory, at standard cost.

Question

Quizplus · Accepted Answer

In a standard cost system, applying standard factory overhead to production involves crediting the factory overhead account at standard cost and debiting the Work in Process (WIP) inventory account.

Which One of the Following Journal Entries in a Standard