Answered: Journalize the entry to record the…

Journalize the entry to record the factory labor costs. If an amount box does not require an entry, leave it blank. 00 00

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 is as follows:
Job No.
Amount
100
$2,450
101
2,030
104
3,720
108
4,240
Indirect
13,060
111
2,590
115
1,700
117
11,490
Journalize the entry to record the factory labor costs. If an amount box does not require an entry, leave it blank.

Expert Solution

Step 1

Total direct cost of labour = 2450 + 2030 + 3720 + 4240 + 2590 + 1700 + 11490

= $28220

Indirect labour cost = $13060

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