Entries for direct labor and factory overhead Instructions Chart of Accounts Journal Instructions Townsend Industries Inc. manufactures recreational vehicles. Townsend uses a job order cost system. The time tickets from November jobs are summarized as follows: Job 11-101 S5,450 Job 11-102 6,180 Job 11-103 4,150 Job 11-104 2.805 Factory supervision 2.800 Factory overhead is applied to jobs on the basis of a predetermined overhead rate of S27 per direct labor hour. The direct labor rate is S45 per hour. Required: 8. Joumalize the November 30 entry to record the factory labor costs. b. Joumalize a second entry on November 30 to apply factory overhead to production for November. *Refer to the chart of accounts for the exact wording of the accountries. Entries for direct labor and factory overhead Instructions Chart of Accounts Journal Chart of Accounts CHART OF ACCOUNTS bbs are summarized as follows: Townsend Industries Inc. General Ledger ASSETS REVENUE 110 Cash 410 Sales 610 Interest Revenue 121 Accounts Receivable 125 Notes Receivable 126 Interest Receivable EXPENSES 15 per hour. 131 Materials 510 Cost of Goods Sold 132 Work in Process 133 Factory Overhead 134 Finished Goods 520 Wages Expense 531 Selling Expenses 532 Insurance Expense 141 Supplies 142 Prepaid Insurance 143 Prepaid Expenses 533 Utilities Expense 534 Office Supplies Expense 540 Administrative Expenses 181 Land 560 Depreciation Expense-Factory Entries for direct labor and factory overhead Instructions Chart of Accounts Journal 4 Chart of Accounts 181 Land 560 Depreciation Expense-Factory 590 Miscellaneous Expense bbs are summarized as follows: 191 Factory 192 Accumulated Depreciation-Factory 710 Interest Expense LIABILITIES 210 Accounts Payable 221 Utilities Payable 231 Notes Payable 15 per hour. 236 Interest Payable 241 Lease Payable 251 Wages Payable 252 Consultant Fees Payablo EQUITY 311 Common Stock 340 Retained Earnings 351 Dividends 300 Income Summar Instructions Chart of Accounts Journal Chart of Accounts bbs are summarized as follows: LIABILITIES 210 Accounts Payable 221 Utilities Payable 231 Notes Payable 236 Interest Payable 241 Lease Payable 251 Wages Payable 252 Consultant Fees Payable 15 per hour EQUITY 311 Common Stock 340 Relained Earnings 351 Dividends 390 Income Summary Entries for direct labor and factory overhead Instructions Chart of Accounts Journal Chart of Accounts Journal ummarized as follows: a. Journalize the November 30 entry to record the factory labor costs. b. Journalize a second entry on November 30 to apply factory overhead to production for November. *Refer to the chart accounts for the exact wording of the account titles. PAGE 10 JOURNAL ur. DATE DESCRIPTION POST. REF. DEBIT CREDIT 1 2 3 4 5