Entries for Direct Labor and Factory Overhead Townsend Industries Inc. manufactures recreational vehicles. Townsend uses a job order cost system. The time tickets from November jobs are summarized as follows: Job 11-101 $6,240 Job 11-102 9,000 Job 11-103 7,210 Job 11-104 6,750 Factory supervision 4,000 Factory overhead is applied to jobs on the basis of a predetermined overhead rate of $18 per direct labor hour. The direct labor rate is $40 per hour. a. Journalize the entry to record the factory labor costs. If an amount box does not require an entry, leave it blank.
Entries for Direct Labor and Factory Overhead Townsend Industries Inc. manufactures recreational vehicles. Townsend uses a job order cost system. The time tickets from November jobs are summarized as follows: Job 11-101 $6,240 Job 11-102 9,000 Job 11-103 7,210 Job 11-104 6,750 Factory supervision 4,000 Factory overhead is applied to jobs on the basis of a predetermined overhead rate of $18 per direct labor hour. The direct labor rate is $40 per hour. a. Journalize the entry to record the factory labor costs. If an amount box does not require an entry, leave it blank.
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter27: Adjustments, Financial Statements, And Year-end Accounting For A Manufacturing
business
Section: Chapter Questions
Problem 5TF: The adjustment for factory overhead applied to work in process at the end of the accounting period...
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Entries for Direct Labor and Factory Overhead
Townsend Industries Inc. manufactures recreational vehicles. Townsend uses a
| Job 11-101 | $6,240 |
| Job 11-102 | 9,000 |
| Job 11-103 | 7,210 |
| Job 11-104 | 6,750 |
| Factory supervision | 4,000 |
Factory overhead is applied to jobs on the basis of a predetermined overhead rate of $18 per direct labor hour. The direct labor rate is $40 per hour.
a.
Transcribed Image Text:Work in Process
Factory Overhead v
Wages Payable v
b. Journalize the entry to apply factory overhead to production for November.
Work in Process v
Factory Overhead v
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