The weekly time tickets indicate the following distribution of labor hours for three direct labor employees: Hours Process Job 301 Job 302 Job 303 Improvement Landon Vincent 10 13 12 3 Fahad Hamad 11 10 16 3 Ivory Argo 13 12 13 2 The direct labor rate earned per hour by the three employees is as follows: Landon Vincent Fahad Hamad Ivory Argo $31 34 30 The process improvement category includes training, quality improvement, and other indirect tasks. Required: a. Journalize the entry on July 15 to record the factory labor costs for the week. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.

The weekly time tickets indicate the following distribution of labor hours for three direct labor employees: Hours Process Job 301 Job 302 Job 303 Improvement Landon Vincent 10 13 12 3 Fahad Hamad 11 10 16 3 Ivory Argo 13 12 13 2 The direct labor rate earned per hour by the three employees is as follows: Landon Vincent Fahad Hamad Ivory Argo $31 34 30 The process improvement category includes training, quality improvement, and other indirect tasks. Required: a. Journalize the entry on July 15 to record the factory labor costs for the week. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.

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Description: The weekly time tickets indicate the following distribution of labor hours forthree direct labor employees:HoursProcessJob 301 Job 302Job 303 ImprovementLandon Vincent1013123Fahad Hamad1110163Ivory Argo1312132The direct labor rate earned per hour by

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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