Woodman Company applies factory overhead on the basis of direct labor hours. Budget and actual data for direct labor and overhead for the year are as follows: Budget Actual Direct labor hours 150,000 160,000 Factory overhead costs $450,000 $440,000 The required journal entry to record applied overhead costs for the year is: A. Debit WIP 450,000 Credit MOH Applied 450,000 B. Debit MOH Control 480,000 Credit MOH Applied 480,000 OC. Debit WIP 412,500 Credit MOH Applied 412,500 D. Debit WIP 480,000 Credit MOH Applied 480,000