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Which would be the entry to the cost of goods sold account

Assignment Help Managerial Accounting
Reference no: EM132735318

The following information relates to Wells Fargo for July 2008:

Actual direct labour costsR80 000

Actual direct labour rate per hour R8

Factory overhead rate per direct labour hour R12

Factory overhead incurred R160 000

Problem 1: Assuming underapplied or overapplied overhead is transferred to cost of goods sold at the end of the period, which of the following would be the entry to the cost of goods sold account?

A.R80 000 debit

B.R80 000 credit

C.R40 000 credit

D.R40 000 debit

Reference no: EM132735318

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