As for the payroll, the job No. 301 have incurred direct labor cost of $2500, and 3100 forjob No. 305. The journal entry to record this transaction is:a. Dr. work in-process controlJob No. 301Job No. 305$2500$3100Cr. Wages payable$5600b. Dr. Wages payableCr. work in-process controlJob No. 301Job No. 305$5600$2500$3100c. Dr. Manufacturing overhead control 5600Cr. Wages payable$5600d. None of the aboveabCd

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Description: As for the payroll, the job No. 301 have incurred direct labor cost of $2500, and 3100 forjob No. 305. The journal entry to record this transaction is:a. Dr. work in-process controlJob No. 301Job No. 305$2500$3100Cr. Wages payable$5600b. Dr. Wages p

The journal entries are prepared to keep the record of day to day business transactions.

Business

Accounting

As for the payroll, the job No. 301 have incurred direct labor cost of $2500, and 3100 for job No. 305. The journal entry to record this transaction is: a. Dr. work in-process control Job No. 301 $2500 Job No. 305 Cr. Wages payable $3100 $5600 b. Dr. Wages payable Cr. work in-process control Job No. 301 $5600 $2500 Job No. 305 $3100 c. Dr. Manufacturing overhead control 5600

As for the payroll, the job No. 301 have incurred direct labor cost of $2500, and 3100 for job No. 305. The journal entry to record this transaction is: a. Dr. work in-process control Job No. 301 $2500 Job No. 305 Cr. Wages payable $3100 $5600 b. Dr. Wages payable Cr. work in-process control Job No. 301 $5600 $2500 Job No. 305 $3100 c. Dr. Manufacturing overhead control 5600

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Entry for Factory Labor Costs A summary of the time tickets for the current month follows: Job No. Amount 100 $3,450 101 2,860 104 5,240 108 5,900 Indirect labor 18,390 111 3,600 115 2,360 117 15,990 Journalize the entry to record the factory labor costs. If an amount box does not require an entry, leave it blank.
A firm uses job costing. Details of the three jobs worked on during a period are: JOB 11 Job 22 Job 33 $ $ Opening work in progress Direct materials in the period Direct labour in the period 22,760 O a. $61,894 O b. $65,084 O c. $66,360 O d. $68,952 4,620 12,125 3,190 11,660 10,520 14,335 7,695 Overheads are absorbed at 40% of prime cost in each period. Jobs 22 and 33 remained incomplete at the end of the period. What is the value of the closing Work in progress?
For the year ended December 31, 2022, the job cost sheets of Carla Vista Company contained the following data. Job Number 7640 7641 7642 Other data: 1. 2. 3. 4. 5. 6. 7. Explanation Balance 1/1 Current year's costs Balance 1/1 Current year's costs Current year's costs Direct Materials. $29,500 35,400 12,980 50,740 68,440 Direct Labor $28,320 42,480 21,240 56,640 64,900 Manufacturing Overhead Total Costs 25,488 $91,804 $33,984 50,976 128,856 59,708 67.968 175,348 77,880 211.220 Raw materials inventory totaled $17,700 on January 1. During the year, $165,200 of raw materials were purchased on account. Finished goods on January 1 consisted of Job No. 7638 for $102,660 and Job No. 7639 for $108,560. Job No. 7640 and Job No. 7641 were completed during the year. Job Nos. 7638,7639, and 7641 were sold on account for $625,400. Manufacturing overhead incurred on account totaled $141,600. Incurred depreciation on factory machinery $9,440. Assigned indirect materials of $16,520 and indirect labor…
please fill in the missing answers to 19-2A. Thank you
Entry for Factory Labor Costs A summary of the time tickets is as follows: Job No. 55 57 58 60 Indirect 66 67 70 Amount $2,570 2,130 3,910 4,390 13,700 2,680 1,760 11,900 Journalize the entry to record the factory labor costs. If an amount box does not require an entry, leave it blank.
5. A company’s individual job sheets show these costs: Job 131 Job 132 Direct materials $4,585 $8,723 Direct labor 2,385 2,498 Using the following accounts, prepare journal entries for the transactions listed below: Work in Process Inventory Cost of Goods Sold Finished Goods Inventory Manufacturing Overhead Raw Materials Inventory Factory Wages Expense Factory Wages Payable Direct Materials Merchandise Inventory PLEASE NOTE: You must enter the account names exactly as written above. All dollar amounts are rounded to whole dollars and shown with "$" and commas as needed (i.e. $12,345). Overhead is applied at 1.25 times the direct labor cost. Use the data on the cost sheets to perform these tasks: Apply overhead to each of the jobs. Job Job 131 Job 132 Job 133 Overhead ? ? ? Prepare an entry to record the assignment of direct materials to work…
The following account appears in the ledger prior to recognizing the jobs completed in August: Work in Process Balance, August 1 $ 59,050 Direct materials 335,000 Direct labor 494,700 Factory overhead 226,200 Jobs finished during August are summarized as follows: Job 210 $178,300 Job 216 232,250 Job 224 149,500 Job 230 328,250 Required: a. Journalize the entry on Aug. 31 to record the jobs completed. Refer to the Chart of Accounts for exact wording of account titles. b. Determine the cost of the unfinished jobs at August 31.
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The work in process account in the general ledger of Multan Manufacturing Company appears as follows: Work in Process Account Material Payroll Applied FOH Rs. 15,900 8,000 6,000 Job Completed Rs. 21,000 There was only one job in process. The material charged to this job amounted to Rs. 1,900. Calculate amount of labor to this incomplete job.
Harper Company uses a job order cost system. Journalize the entries for materials and labor, based on the following data:Raw materials issued: Job No. 609, $850; for general use in factory, $600Labor time tickets: Job No. 609, $1,600; $400 for supervision If an amount box does not require an entry, leave it blank. fill in the blank 2 fill in the blank 3 fill in the blank 5 fill in the blank 6 fill in the blank 8 fill in the blank 9 fill in the blank 11 fill in the blank 12 fill in the blank 14 fill in the blank 15 fill in the blank 17 fill in the blank 18
A summary of the time tickets is as follows: Job No. Amount 55) $ 3,300 57) $6,105 58) $21,005 60) $15,500 Indirect $9,300 66) $9,430 67)$10,075 70) $4,380 Required: Journalize the entry on Dec. 31 to record the factory labor costs.