Redox Inc. uses a predetermined overhead allocation rate to allocate manufacturing overhead costs to jobs. The company recently completed Job no$.200.$ This job used $25$ machine hours and $17$ direct labor hours. The predetermined overhead allocation rate is calculated to be $$28$ per machine hour.

The journal entry to record the allocation of manufacturing overhead to a Job no$.200$ includes:

Redox Inc. uses a predetermined overhead allocation rate to allocate manufacturing overhead costs to jobs. The company recently completed Job no$.200.$ This job used $25$ machine hours and $17$ direct labor hours. The predetermined overhead allocation rate is calculated to be $$28$ per machine hour.

The journal entry to record the allocation of manufacturing overhead to a Job no$.200$ includes:

Debit $$700$ to the Finished Goods inventory account and credit $700$ to the Manufacturing overhead account

Debit $$476$ to the Manufacturing overhead account and credit $$476$ to the Finished goods inventory account

Debit $$476$ to the Work$-$in$-$process inventory account and credit $$476$ to the Manufacturing overhead account

Debit $$700$ to the Work$-$in$-$process inventory account and credit $$700$ to the Manufacturing overhead account