Time tickets indicated 3,000 labor hours in the production of Job .115, out of which 2,800 were direct labor hours. The company pays $10 per each labor hour. The entry to record this transaction is: * O A debit to Factory Labor $30,000 and a credit to Cash 30,000 A debit to Work in Process Inventory $30,000 and a credit to Factory Labor $30,000 O A debit to Work in Process Inventory $28,000 and a credit to Factory Labor $28,000 A debit to Work in Process Inventory $28,000, a debit to manufacturing overhead $2,000, and a credit to Factory Labor $30,000 O None of the above
Time tickets indicated 3,000 labor hours in the production of Job .115, out of which 2,800 were direct labor hours. The company pays $10 per each labor hour. The entry to record this transaction is: * O A debit to Factory Labor $30,000 and a credit to Cash 30,000 A debit to Work in Process Inventory $30,000 and a credit to Factory Labor $30,000 O A debit to Work in Process Inventory $28,000 and a credit to Factory Labor $28,000 A debit to Work in Process Inventory $28,000, a debit to manufacturing overhead $2,000, and a credit to Factory Labor $30,000 O None of the above
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter5: Product And Service Costing: Job-order System
Section: Chapter Questions
Problem 17E: During August, Skyler Company worked on three jobs. Data relating to these three jobs follow:...
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