Time tickets for factory employees during the month of August are summarized as follows. Prepare a journal entry to record the total factory payroll, the indirect payroll and the direct payroll. You may exclude explanations JOb 919..................$ 9,800 Job 920................... 14,650 job 921.................... 12,250 job 922......................16,000 total direct labor.......$52,700 Indirect Labor...........16,800 Total Labor Cost.......$69,500
Here are the journal entries
| Date | Account | Debit | Credit |
| 1 | Factory Payroll | $ 69,500 | |
| Cash | $ 69,500 | ||
| 2 | Work in process | $ 52,700 | |
| Factory Payroll | $ 52,700 | ||
| 3 | Factory Overhead | $ 16,800 | |
| Factory Payroll | $ 16,800 | ||
Time tickets for factory employees during the month of August are summarized as follows. Prepare a journal entry to reco...
Entry for Factory Labor Costs A summary of the time tickets for the current month follows: Job No. Amount 100 101 $2,700 2,240 4,100 104 108 4,640 14,390 Indirect labor 111 2,830 1,860 115 117 12,570 Journalize the entry to record the factory labor costs. If an amount box does not require an entry, leave it blank.
Entry for Factory Labor Costs The weekly time tickets indicate the following distribution of labor hours for three direct labor employees: Hours Job 301 Job 302 Job 303 Process Improvement Tom Couro w David Clancy 91514 Jose Cano The direct labor rate earned per hour by the three employees is as follows: $20 Tom Couro David Clancy Jose Cano 18 The process improvement category includes training, quality improvement, and other indirect tasks. a. Journalize the entry to record the factory...
A summary of the time tickets for August follows: Amount Description Job No. 321 Job No. 329 Job No. 336 Amount $11,000 9,200 5,000 Description Job No. 342 Job No. 346 Indirect labor $8,300 5,700 8,000 Present the joumal entries to record(a) the labor cost incurred and (b) the application of factory overhead to production for August. The factory overhead rate is 70% of direct labor cost. If an amount box does not require an entry leave it blank re...
Entry for Factory Labor Costs The weekly time tickets indicate the following distribution of labor hours for three direct labor employees: Hours Job 301 Job 302 Job 303 Process Improvement Tom Couro 19 10 5 5 David Clancy 9 15 11 4 Jose Cano 10 14 9 5 The direct labor rate earned per hour by the three employees is as follows: Tom Couro $20 David Clancy 22 Jose Cano 18 The process improvement category includes training, quality improvement, and...
10. During the month of June, employee time tickets at Michael’s Camping Supply provide the following information: 700 hours for Job 81, 675 hours for Job 82, and 500 hours for Job 83. Workers are paid $9 for every hour worked. Prepare the journal entries required as of the end of the month. 11. Michael’s Camping Supply incurs the following expenses throughout the month of June: $5,000 for indirect materials, $7,000 for indirect labor, $4,400 for factory utilities, and $1,200...
Prepare summary journal entries to record the following transactions for a company in its first month of operations. a. Raw materials purchased on account, $88,000. b. Direct materials used in production, $39,000. Indirect materials used in production, $17,800. c. Paid cash for factory payroll, $55,000. Of this total, $39,000 is for direct labor and $16,000 is for indirect labor. d. Paid cash for other actual overhead costs, $7,500. e. Applied overhead at the rate of 120% of direct labor cost....
Watkins Machinery Company uses a normal job costing system. The company has the following partial trial balance information for March, the last month of its fiscal year: Materials inventory (x, $9,750; Y, $6,500; Indirect materials, $16, 250) Work-in-process inventory (this is Job 101) Finished goods inventory (this is Job 100) $ 32,500 16,800 28,000 These transactions relate to the month of March: a. Purchased direct materials and indirect materials with the following summary of receiving reports: Material x Material y...
Problem 15-3A Source documents, journal entries, and accounts in job order costing LO P1, P2, P3 [The following information applies to the questions displayed below.) Widmer Watercraft's predetermined overhead rate for year 2015 is 200% of direct labor. Information on the company's production activities during May 2015 follows. a. Purchased raw materials on credit, $240,000. b. Materials requisitions record use of the following materials for the month. Job 136 Job 137 Job 138 Job 139 Job 140 $ 49,000 32,500...
Problem 15-3A Source documents, journal entries, and accounts in job order costing LO P1, P2, P3 [The following information applies to the questions displayed below.) Widmer Watercraft's predetermined overhead rate for year 2015 is 200% of direct labor. Information on the company's production activities during May 2015 follows. a. Purchased raw materials on credit, $220,000. b. Materials requisitions record use of the following materials for the month. Job 136 Job 137 Job 138 Job 139 Job 140 $ 49,500 32,500...