The journal entry to record the cost of raw materials placed into production involves a

debit to Work-in-Process inventory account for $50,600.

debit to Overhead account for $50,600.

debit to Work-in-Process Inventory account for $53,000.

credit to Manufacturing Overhead account for $2400.

Here are some basic data for Shannon Company: account ' (Includes $2400 of Indirect) ' Manufactun'ng overhead costs $8? 500 incunted,r including indirect materials " Cost of goods completed $255,?5Ei Predetennined manufacturing - overhead rate (as \"In of direct labor 120% cost}