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Time tickets indicated 9,000 labor hours in the production of Job .115, out of which 6,000 were direct labor hours. The company pays $8 per each labor hour. The entry to record this transaction is: * A debit to Work in Process Inventory $48,000 and a credit to Factory Labor $48,000 A debit to Work in Process Inventory $72,000 and a credit to Factory Labor $72,000 A debit to Work in Process Inventory $48,000, a debit to manufacturing overhead $24,000, and a credit to Factory Labor $72,000 None of the above

Time tickets indicated 9,000 labor hours in the production of Job .115, out of which 6,000 were direct labor hours. The company pays $8 per each labor hour. The entry to record this transaction is: * A debit to Work in Process Inventory $48,000 and a credit to Factory Labor $48,000 A debit to Work in Process Inventory $72,000 and a credit to Factory Labor $72,000 A debit to Work in Process Inventory $48,000, a debit to manufacturing overhead $24,000, and a credit to Factory Labor $72,000 None of the above

Corporate Financial Accounting
Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter10: Liabilities: Current, Installment Notes, And Contingencies
Section: Chapter Questions
Problem 10.8EX: Calculate payroll An employee earns 44 per hour and 1.5 times that rate for all hours in excess of...
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l 69% 4G+ 11:55 M Employer Payroll Taxes Payable $3,000 and a credit to Factory Wages payable $95,000 None of the above Time tickets indicated 9,000 labor hours in the production of Job .115, out of which 6,000 were direct labor hours. The company pays $8 per each labor hour. The entry to record this transaction is: A debit to Work in Process Inventory $48,000 and a credit to Factory Labor $48,000 A debit to Work in Process Inventory O $72,000 and a credit to Factory Labor $72,000 A debit to Work in Process Inventory $48,000, a debit to manufacturing overhead $24,000, and a credit to Factory Labor $72,000 O None of the above The journal entry to record the completion of Job No.114 at a cost of $18,000 would include: *
Transcribed Image Text:l 69% 4G+ 11:55 M Employer Payroll Taxes Payable $3,000 and a credit to Factory Wages payable $95,000 None of the above Time tickets indicated 9,000 labor hours in the production of Job .115, out of which 6,000 were direct labor hours. The company pays $8 per each labor hour. The entry to record this transaction is: A debit to Work in Process Inventory $48,000 and a credit to Factory Labor $48,000 A debit to Work in Process Inventory O $72,000 and a credit to Factory Labor $72,000 A debit to Work in Process Inventory $48,000, a debit to manufacturing overhead $24,000, and a credit to Factory Labor $72,000 O None of the above The journal entry to record the completion of Job No.114 at a cost of $18,000 would include: *
11:56 M 19 ull 69% i docs.google.com/forms/d/e/11 2 P40,000, a uebit to manulattumg overhead $24,000, and a credit to Factory Labor $72,000 None of the above The journal entry to record the completion of Job No.114 at a cost of $18,000 would include: * A debit to Work in Process Inventory $18,000 and a debit to Finished Goods Inventory $18,000 A credit to Work in Process Inventory $18,000 and a debit to Finished Goods Inventory $18,000 A debit to Work in Process Inventory $18,000 and a credit to Finished Goods Inventory $18,000 O None of the above Goods costing $15,000 were sold for $20,000 on account. The entry to record this transaction would include: *
Transcribed Image Text:11:56 M 19 ull 69% i docs.google.com/forms/d/e/11 2 P40,000, a uebit to manulattumg overhead $24,000, and a credit to Factory Labor $72,000 None of the above The journal entry to record the completion of Job No.114 at a cost of $18,000 would include: * A debit to Work in Process Inventory $18,000 and a debit to Finished Goods Inventory $18,000 A credit to Work in Process Inventory $18,000 and a debit to Finished Goods Inventory $18,000 A debit to Work in Process Inventory $18,000 and a credit to Finished Goods Inventory $18,000 O None of the above Goods costing $15,000 were sold for $20,000 on account. The entry to record this transaction would include: *
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