Penn Company uses a job order cost accounting system. In the last month, the system accumulated labor time tickets totaling $32,000 for direct labor and $6,400 for indirect labor. These costs were accumulated in Factory Payroll as they were paid. Which entry should Penn make to assign the Factory Payroll? Credit General Journal (A) Payroll Expense Cash Debit 38,400 38,400 (B) Payroll Expense Factory Overhead Factory Payroll 32,000 6.400 38,400 (C) Goods in Process Inventory Factory Overhead Factory Payroll 32,000 6,400 38.400 (D) Goods in Process Inventory Factory Overhead Accrued Wages Payable 32,000 6,400 38.400 (E) Goods in Process Inventory Factory Payroll 38.400 38,400 Question 7 The Goods in Process Inventory account for the AB Corp. follows: Goods in Process Inventory Beginning balance Direct materials Direct labor Applied overhead Ending balance 7,200 66,000 43,100 23,000 ? Finshed goods h 13,400 The cost of units transferred to finished goods is: $139,300 $152,700 $125.900 $138.300 S132.100