A summary of the time tickets for October follows: Description Amount Description Amount Job No. 319 $10,000 Job No. 344 $8,500 Job No. 330 9,700 Job No. 346 5,800 Job No. 335 3,000 Indirect labor 8,600 (a) Present the journal entry to record the labor costs incurred. Account DR CR

A summary of the time tickets for October follows: Description Amount Description Amount Job No. 319 $10,000 Job No. 344 $8,500 Job No. 330 9,700 Job No. 346 5,800 Job No. 335 3,000 Indirect labor 8,600 (a) Present the journal entry to record the labor costs incurred. Account DR CR

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Question

A summary of the time tickets for October follows:
Description
Amount Description
Amount
Job No. 319
$10,000 Job No. 344
$8,500
Job No. 330
9,700 Job No. 346
5,800
Job No. 335
3,000 Indirect labor
8,600
(a) Present the journal entry to record the labor costs incurred.
Account
DR
CR
(b) Record the application of factory overhead to production for October. The factory overhead rate is
65% of direct labor cost. Please also show your calculation to maximize your points.
Calculation:
Account
DR
CR

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