19) Farrel Corporation is a manufacturer that uses job-order costing. The company has supplied the following...
19) Farrel Corporation is a manufacturer that uses job-order costing. The company has supplied the following data for the just completed year:
|
Direct labor cost |
$ |
574,000 |
|
Manufacturing overhead: |
||
|
Indirect labor cost |
$ |
163,000 |
|
Other manufacturing overhead costs incurred |
$ |
584,000 |
What is the journal entry to record the direct and indirect labor costs incurred during the year?
A)
|
Wages Payable |
737,000 |
|
|
Direct Labor |
574,000 |
|
|
Manufacturing Overhead |
163,000 |
B)
|
Work in Process |
574,000 |
|
|
Manufacturing Overhead |
163,000 |
|
|
Wages Payable |
737,000 |
C)
|
Wages Payable |
737,000 |
|
|
Work in Process |
574,000 |
|
|
Manufacturing Overhead |
163,000 |
D)
|
Direct Labor |
574,000 |
|
|
Manufacturing Overhead |
163,000 |
|
|
Wages Payable |
737,000 |
20) Piekos Corporation incurred $90,000 of actual Manufacturing Overhead costs during June. During the same period, the Manufacturing Overhead applied to Work in Process was $92,000. The journal entry to record the application of Manufacturing Overhead to Work in Process would include a:
A) debit to Manufacturing Overhead of $92,000
B) debit to Work in Process of $90,000
C) credit to Manufacturing Overhead of $92,000
D) credit to Work in Process of $90,000
Homework Answers
19. Option B is the answer
The entry would be
Debit :- Work in Process 574,000
Debit :- manufacturing overhead 163,000
Credit :- Wages payable 737,000
20. Option C is the answer
Credit to manufacturing overhead 92,000
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19) Farrel Corporation is a manufacturer that uses job-order
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