Question
Entries for Direct Labor and Factory Overhead Schumacher Industries Inc. manufactures recreational vehicles. Schumacher Industries uses a job order cost system. The time tickets from
Entries for Direct Labor and Factory Overhead
Schumacher Industries Inc. manufactures recreational vehicles. Schumacher Industries uses a job order cost system. The time tickets from June jobs are summarized as follows:
| Job 11-101 | $2,110 |
| Job 11-102 | 1,430 |
| Job 11-103 | 1,130 |
| Job 11-104 | 1,740 |
| Job 11-105 | 1,130 |
| Factory supervision | 980 |
Factory overhead is applied to jobs on the basis of a predetermined overhead rate of $26 per direct labor hour. The direct labor rate is $13 per hour.
a. Journalize the entry to record the factory labor costs. If an amount box does not require an entry, leave it blank.
| ---------------- | |||
| --------------- | |||
| --------------- |
b. Journalize the entry to apply factory overhead to production for June. If an amount box does not require an entry, leave it blank.
| ---------------- | |||
| ------------------- |
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
