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Morley, Inc. uses a predetermined overhead allocation rate of $67 per direct labor hour. In...

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Accounting

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Morley, Inc. uses a predetermined overhead allocation rate of $67 per direct labor hour. In January, the company completed Job A23 which utilized 16 direct labor hours. Which of the following correctly describes the journal entry to allocate overhead to the job? Select one: o A. debit Cost of Goods Sold $67 and credit Finished Goods Inventory $67 B. debit Work-in-Process Inventory $1,206 and credit Manufacturing Overhead $1,206 C. debit Manufacturing Overhead $67 and credit Work-in- Process Inventory $67 D. debit Work-in-Processs Inventory $1,072 and credit Manufacturing Overhead $1,072 E. None of the above

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