ABC Company uses a Materials Inventory account to record both direct and indirect materials. ABC charges direct materials to WIP, while indirect materials are charged to the Factory Overhead account. During the month of April, the company has the following cost information: Total materials (direct and indirect) purchased $ 92,700 Indirect materials issued to production 37,400 Total materials issued to production 109,000 Beginning materials inventory 53,700 The debit to the Factory Overhead accou

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Question:

ABC Company uses a Materials Inventory account to record both direct and indirect materials. ABC charges direct materials to WIP, while indirect materials are charged to the Factory Overhead account. During the month of April, the company has the following cost information: Total materials (direct and indirect) purchased $ 92,700 Indirect materials issued to production 37,400 Total materials issued to production 109,000 Beginning materials inventory 53,700 The debit to the Factory Overhead account is:

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Answer:$37,400Explanation:Overhead incurred are accounted for in the Overhead Account. The debit side of this account is increased with any overhead incurred. From the question, the indirect materials are the only overheads incurred. The entry to record this is as follows :Debit : Overhead $37,400Credit : Materials $37,400Being Material Overheads incurred

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