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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

Entry for factory labor costs

A summary of the time tickets for the current month follows

Job No. Amount
100 $ 3,500
101 6,650
104 21,900
108 14,440
Indirect $ 9,100
111 8,620
115 2,760
117 18,550

Journalize the entry to record the factory labor costs.

To determine

Direct labor cost

The employees working on particular job use time ticket to record the work done by them with respect to a particular job. The summary of time tickets is used for calculating direct labor cost for a particular job.

To record: Journal entry for factory labor cost.

Explanation

The journal entry is prepared as follows:

Date Account titles and Explanation Debit
($)
Credit
($)
  Work in process Table (2) 76,420  
  Factory overhead 9,100  
      Wages Payable   85,520
  (Record factory labor costs)    

Table (1)

Working notes:

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