Property #500 is a joint working interest property. Spinnaker Petroleum owns 60%, Hatch Corporation owns 30%, and Earth Company owns 10% of the working interest. Alec Petroleum is the operator and bills Hatch and Earth monthly for their portion of costs incurred. During May 2021, Spinnaker incurred costs as follows:

Other Costs:
Employee benefits—21% of salaries and wages Transportation of material and employees, 1,500 miles @ $0.25/mile Overhead, 22% of all costs listed above REQUIRED: Give the entries to record and distribute the costs, assuming regular accounts are used.

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Salaries and wages, field employees Salaries and wages, first-level field supervisors FICA and Medicare taxes, 7.65% of above.. New separator, purchased and installed. Repairs to Christmas tree... Property taxes paid. $8,000 4,000 900 20,000 1,000 2,000