Refer to M2-10. 1. Prepare the journal entry to record Fairfield Companys payroll Costs. 2. The company
Question:
Refer to M2-10.
1. Prepare the journal entry to record Fairfield Company’s payroll Costs.
2. The company applies manufacturing overhead to products at a predetermined rate of $50 per direct labor hour. Prepare the journal entry to apply manufacturing overhead to production.
Transcribed Image Text:
Item Description Total Cost Hourly labor wages 750 hours$30 per hour 200 hours for Job 101$6,000 300 hours for Job 1029,000 Factory supervision Production engineer Factory janitorial work Selling, general, and administrative salaries 250 hours for Job 1037,500 $22,500 4,000 8,000 2,500 9,000 $46,000 Total payroll costs
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Req 1 Work in Process Inventory 22500 Manufacturing Overhead 4000 8000 2500 14...View the full answer
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Related Book For
Managerial Accounting
ISBN: 978-0078025518
2nd edition
Authors: Stacey Whitecotton, Robert Libby, Fred Phillips
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