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Accounting

27th Edition
WARREN + 5 others
ISBN: 9781337272094

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BuyFindarrow_forward

Accounting

27th Edition
WARREN + 5 others
ISBN: 9781337272094
Textbook Problem

Factory overhead costs

During August, Rothchild Company incurred factory overhead costs as follows: indirect materials, $17,500; indirect labor, $22,000; Utilities cost, $9,600; and factory depreciation, $17,500. Journalize the entry to record the factory overhead incurred during August.

To determine

Factory overhead:

It includes all manufacturing costs except direct material cost and direct labor cost. Factory overhead cost includes all costs like indirect materials, indirect labor, factory power and factory depreciation.

To record: Journal entry the factory overhead incurred

Explanation

The journal entry is prepared as follows:

Date Account titles and Explanation Debit
($)
Credit
($)
August   Factory overhead 66,600  
      Materials   17,500
      Wages Payable   22,000
...

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