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During January, Swifty Company's manufacturing accounts contained the following manufacturing costs: raw materials $720, factory labor $6,200, manufacturing overhead $3,140, and Work in Process, $3,040.
During January, Swifty Company's manufacturing accounts contained the following manufacturing costs: raw materials $720, factory labor $6,200, manufacturing overhead $3,140, and Work in Process, $3,040. During January, time tickets show that the factory labor of $6,200 was used as follows: Job 1 $2,390, Job 2 $1,730, Job 3 $1,500, and general factory use $580. Record factory labor used. (Post material transactions to beginning balances. Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses e.g. (45).) Balance Direct labor Indirect labor Manufacturing Costs Raw Materials Inventory Factory Labor Manufacturing Overhead Work in Process Invent 720 $ 720 $ Balance 29,922 6200 $
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