Entries for direct labor and factory overhead

Entries for direct labor and factory overhead Instructions Chart of Accounts General Journal Instructions Schumacher Industries Inc. manufactures recreational vehicles. Schumacher Industries uses The time_tickets from June jobs are summarized as Chart of Accounts ASSETS 110 Cash Accounts Receivable Notes Receivable Interest Receivable Materials Work in Process Factory Overhead Finished Goods Supplies Prepaid Insurance Prepaid Expenses Land Factory General Ledger follows: Job 11-101 Job 11-102 Job 11-103 Job 11-104 Job 11-105 Factory supervision $5,450 6,180 4,150 2,805 18,270 2,800 Factory overhead is applied to jobs on the basis of a predetermined overhead rate of $27 per direct labor hour. The direct labor rate is $45 per hour. Required: a. Joumalize the June 30 entry to record the factory labor costs. b. Joumalize a second entry on June 30 to apply factory overhead to production for June. General Joumal a. Joumalize the June 30 entry to record the factory labor costs. b. Joumalize a second entry on June 30 to apply factory overhead to production for June. 121 125 126 131 132 133 134 141 142 143 181 191 192 210 221 231 236 241 251 252 311 340 351 410 610 510 520 531 532 533 534 540 560 590 710 REVENUE Sales Interest Revenue EXPENSES Cost of Goods Sold Wages Expense Selling Expenses Insurance Expense Utilities Expense Offce Supplies Expense Administrative Expenses Depreciation Expense-Factory Miscellaneous Expense Interest Expense ral rnal I DATE truc n JOURNAL DESCRIPTION POST. REF. DEBIT CREDIT PAGE 10 IA-rink' ASSETS LIABILITIES EQUITY Accumulated Depreciation-Factory LIABILITIES Accounts Payable Utilities Payable Notes Payable Interest Payable Lease Payable Wages Payable Consultant Fees Payable EQUITY Common Stock Retained Earnings Dividends