What is the entry to record $500 of wages for the carpenter of the bookcase? Hint:...
What is the entry to record $500 of wages for the carpenter of the bookcase? Hint: Ask what kind of cost it is (period or product? If product: DM, DL, indirect? and then decide how it is treated)
Homework Answers
Entry to record $500 of wages for the carpenter of the bookcase will be as under:
| Wages expense | 500 | ||
| Cash | 500 |
Wages expense is a kind of product cost.
Period costs are administrative and selling expenses.
Wages expense is a direct labor.
It is a part of prime cost and thus it is integral part of cost of production.
Kindly comment if you need further assistance. Thanks
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What is the entry to record $500 of wages for the carpenter of
the bookcase? Hint:...
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Calculate total manufacturing overhead costs.
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Calculate total period costs.
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