The gross earnings of the factory workers for Waterway Company during the month of January are $86,000. The employer’s payroll taxes for the factory payroll are $9,500. The fringe benefits to be paid by the employer on this payroll are $5,300. Of the total accumulated cost of factory labor, 81% is related to direct labor and 19% is attributable to indirect labor.(a) Prepare the entry to record the factory labor costs for the month of January.(b) Prepare the entry to assign factory labor to production.
The gross earnings of the factory workers for Waterway Company during the month of January are $86,000. The employer’s payroll taxes for the factory payroll are $9,500. The fringe benefits to be paid by the employer on this payroll are $5,300. Of the total accumulated cost of factory labor, 81% is related to direct labor and 19% is attributable to indirect labor.(a) Prepare the entry to record the factory labor costs for the month of January.(b) Prepare the entry to assign factory labor to production.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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The gross earnings of the factory workers for Waterway Company during the month of January are $86,000. The employer’s payroll taxes for the factory payroll are $9,500. The
(a) Prepare the entry to record the factory labor costs for the month of January.
(b) Prepare the entry to assign factory labor to production.
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