FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Entries for Direct Labor and Factory Overhead
Schumacher Industries Inc. manufactures recreational
vehicles. Schumacher Industries uses a job order cost
system. The time tickets from June jobs are summarized as
follows:
Job 11-101
Job 11-102
Job 11-103
Job 11-104
Job 11-105
Factory supervision
$2,060
1,400
Factory overhead is applied to jobs on the basis of a
predetermined overhead rate of $30 per direct labor hour.
The direct labor rate is $15 per hour.
b.
pr
en
1,100
1,690
1,100
960
a. Journalize the entry to record the factory labor costs. If
an amount box does not require an entry, leave it blank.
Accounts Payable
Cash
Finished Goods
Materials
Wages Payable
Work in Process
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Transcribed Image Text:Entries for Direct Labor and Factory Overhead Schumacher Industries Inc. manufactures recreational vehicles. Schumacher Industries uses a job order cost system. The time tickets from June jobs are summarized as follows: Job 11-101 Job 11-102 Job 11-103 Job 11-104 Job 11-105 Factory supervision $2,060 1,400 Factory overhead is applied to jobs on the basis of a predetermined overhead rate of $30 per direct labor hour. The direct labor rate is $15 per hour. b. pr en 1,100 1,690 1,100 960 a. Journalize the entry to record the factory labor costs. If an amount box does not require an entry, leave it blank. Accounts Payable Cash Finished Goods Materials Wages Payable Work in Process
Entries for Direct Labor and Factory Overhead
Schumacher Industries Inc. manufactures recreational
vehicles. Schumacher Industries uses a job order cost
system. The time tickets from June jobs are summarized as
follows:
Job 11-101
Job 11-102
Job 11-103
Job 11-104
Job 11-105
Factory supervision
$2,060
1,400
1,100
1,690
1,100
960
Factory overhead is applied to jobs on the basis of a
predetermined overhead rate of $30 per direct labor hour.
The direct labor rate is $15 per hour.
a. Journalize the entry to record the factory labor costs. If
an amount box does not require an entry, leave it blank.
B
b. Journalize the entry to apply factory overhead to
production for June. If an amount box does not require an
entry, leave it blank.
8
expand button
Transcribed Image Text:Entries for Direct Labor and Factory Overhead Schumacher Industries Inc. manufactures recreational vehicles. Schumacher Industries uses a job order cost system. The time tickets from June jobs are summarized as follows: Job 11-101 Job 11-102 Job 11-103 Job 11-104 Job 11-105 Factory supervision $2,060 1,400 1,100 1,690 1,100 960 Factory overhead is applied to jobs on the basis of a predetermined overhead rate of $30 per direct labor hour. The direct labor rate is $15 per hour. a. Journalize the entry to record the factory labor costs. If an amount box does not require an entry, leave it blank. B b. Journalize the entry to apply factory overhead to production for June. If an amount box does not require an entry, leave it blank. 8
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