*Do It! Review 15-1 During the current month, Wacholz Company incurs the following manufacturing costs. (a) Purchased raw materials of $18,900 on account. Incurred factory labor of $40,300. Of that amount, $29,800 relates to wages payable and $10,500 relates to payroll taxes payable. Factory utilities of $3,200 are payable, prepaid factory property taxes of $2,700 have expired, and depreciation on the factory building is $9,300. (b) Prepare journal entries for each type of manufacturing cost. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (a) 18900 Raw Materials Inventory Accounts Payable 18960 (Purchases of raw materials on account) (b) Factory Labor 40,300 1,000 9300 (To record factory labor costs) (c) Factory wages Payable Employer Payroll Taxes Payable manufacturing overhead Prepaid Property Tales Accumulated Depreciation - Bulls utilities 2700 9300 (To record overhead costs) Payable Question Attempts: 0 of 3 used Copyright 2000-2020 by John Wiley & Sons, Inc. or related companies. Al rights reserved