3. A summary of the time tickets for August follows: Description Amount Description Amount Job No. 321 $11,000 Job No. 342 $8,300 Job No. 329 9,200 Job No. 346 5,700 Job No. 336 5,000 Indirect labor 8,000 Present the journal entries to record (a) the labor cost incurred and (b) the application of factory overhead to production for August. The factory overhead rate is 70% of direct labor cost.
3. A summary of the time tickets for August follows: Description Amount Description Amount Job No. 321 $11,000 Job No. 342 $8,300 Job No. 329 9,200 Job No. 346 5,700 Job No. 336 5,000 Indirect labor 8,000 Present the journal entries to record (a) the labor cost incurred and (b) the application of factory overhead to production for August. The factory overhead rate is 70% of direct labor cost.
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter2: Job Order Costing
Section: Chapter Questions
Problem 4BE: Applying factory overhead Bergan Company estimates that total factory overhead costs will be 620,000...
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