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Concord Company assigns overhead based on machine hours. The Milling Department logs 2400 machine hours and Cutting Department shows 4500 machine hours for the period.

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Concord Company assigns overhead based on machine hours. The Milling Department logs 2400 machine hours and Cutting Department shows 4500 machine hours for the period. If the overhead rate is $6 per machine hour, the entry to assign overhead will show a debit to Work in Process Inventory - Milling Department for $27000. O credit to Manufacturing Overhead for $41400. O credit to Work in Process Inventory-Cutting Department for $27000. O debit to Manufacturing Overhead for $41400

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