Dash Industries Inc manufactures recreational vehicles Dash uses a job order cost system The time tickets from April jobs are summarized as follows Job 201 $5,250 Job 202 6,100 Job 203 4,280 Job 204 5,620 Factory supervision 2,785 Factory overhead is applied to jobs on the basis of a predetermined overhead rate of $25 per direct labor hour The direct labor rate is $50 per hour Required A Journalize the April 30 entry to record the factory labor costs B Journalize a second entry on April 30 to apply factory overhead to production for April Refer to the Chart of Accounts provided for the correct wording of account titles CHART OF ACCOUNTS Dash Industries Inc General Ledger ASSETS 110 Cash 121 Accounts Receivable 125 Notes Receivable 126 Interest Receivable 131 Materials 132 Work in Process 133 Factory Overhead 134 Finished Goods 141 Supplies 142 Prepaid Insurance 143 Prepaid Expenses 181 Land 191 Factory 192 Accumulated Depreciation Factory LIABILITIES 210 Accounts Payable 221 Utilities Payable 231 Notes Payable 236 Interest Payable 241 Lease Payable 251 Wages Payable 252 Consultant Fees Payable Required A Journalize the April 30 entry to record the factory labor costs B Journalize a second entry on April 30 to apply factory overhead to production for April Refer to the Chart of Accounts for exact wording of account titles PAGE 10 JOURNAL DATE DESCRIPTION POST REF DEBIT CREDIT 1 2 3 4 5 EQUITY 311 Common Stock 340 Retained Earnings 351 Dividends 390 Income Summary REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Goods Sold 520 Wages Expense 531 Selling Expenses 532 Insurance Expense 533 Utilities Expense 534 Office Supplies Expense 540 Administrative Expenses 560 Depreciation Expense Factory 590 Miscellaneous Expense 710 Interest Expense

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Dash Industries Inc. manufactures recreational vehicles. Dash uses a job order cost system. The time tickets from April jobs are summarized as follows: Job 201

Dash Industries Inc. manufactures recreational vehicles. Dash uses a job order cost system. The time tickets from April jobs are summarized as follows: Job 201 $5,250 Job 202 6,100 Job 203 4,280 Job 204 5,620 Factory supervision 2,785 Factory overhead is applied to jobs on the basis of a predetermined overhead rate of $25 per direct labor hour. The direct labor rate is $50 per hour.

Required:

A. Journalize the April 30 entry to record the factory labor costs.

B. Journalize a second entry on April 30 to apply factory overhead to production for April.

*Refer to the Chart of Accounts provided for the correct wording of account titles.

CHART OF ACCOUNTS

Dash Industries Inc.

General Ledger

	ASSETS
110	Cash
121	Accounts Receivable
125	Notes Receivable
126	Interest Receivable
131	Materials
132	Work in Process
133	Factory Overhead
134	Finished Goods
141	Supplies
142	Prepaid Insurance
143	Prepaid Expenses
181	Land
191	Factory
192	Accumulated Depreciation-Factory

	LIABILITIES
210	Accounts Payable
221	Utilities Payable
231	Notes Payable
236	Interest Payable
241	Lease Payable
251	Wages Payable
252	Consultant Fees Payable

Required:

Journalize the April 30 entry to record the factory labor costs.

Journalize a second entry on April 30 to apply factory overhead to production for April.

*Refer to the Chart of Accounts for exact wording of account titles.

PAGE 10

JOURNAL

	DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT
1
2
3
4
5

	EQUITY
311	Common Stock
340	Retained Earnings
351	Dividends
390	Income Summary

	REVENUE
410	Sales
610	Interest Revenue

	EXPENSES
510	Cost of Goods Sold
520	Wages Expense
531	Selling Expenses
532	Insurance Expense
533	Utilities Expense
534	Office Supplies Expense
540	Administrative Expenses
560	Depreciation Expense-Factory
590	Miscellaneous Expense
710	Interest Expense