Reference no: EM132746952

Problem 1: To spread the cost of vacation pay over production throughout the year, the weekly payroll entry would include a debit to which of the following accounts for the vacation pay portion of the entry?

Group of answer choices

Option 1: Payroll

Option 2: Factory Overhead Control

Option 3: Liability for Vacation Pay

Option 4: Work in Process

Problem 2: Underapplied factory overhead related to a significant decrease in production should be charged to :

Group of answer choices

Option 1: Work in Process Inventory and Finished Goods Inventory

Option 2: Work in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold

Option 3: Finished Goods Inventory

Option 4: Cost of Goods Sold