Entry for Factory Labor Costs The weekly time tickets indicate the following distribution of labor hours for three direct labor employees Hours Job 301 Hours Job 302 Hours Job 303 Hours Process Improvement Tom Couro 10 15 13 2 David Clancy 12 12 14 2 Jose Cano 11 13 15 1 The direct labor rate earned per hour by the three employees is as follows Employee Direct Labor Rate Tom Couro $32 David Clancy 36 Jose Cano 28 The process improvement category includes training, quality improvement, and other indirect tasks Question Content Area a Journalize the entry to record the factory labor costs for the week If an amount box does not require an entry, leave it blank Account Debit Credit Select Select Select Select Select Select b Assume that Jobs 301 and 302 were completed but not sold during the week and that Job 303 remained incomplete at the end of the week How would the direct labor costs for all three jobs be reflected on the financial statements at the end of the week The direct labor costs for the completed jobs would become part of the cost of goods sold OR finished goods inventory OR work in process inventory Select one The direct labor costs for Job 303 would be remain part of the cost of goods sold OR finished goods inventory OR work in process inventory Select one

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Entry for Factory Labor Costs The weekly time tickets indicate the following distribution of labor hours for three direct labor employees: Hours Job 301 Hours

Entry for Factory Labor Costs

The weekly time tickets indicate the following distribution of labor hours for three direct labor employees:

Hours Job 301 Hours Job 302 Hours Job 303 Hours Process Improvement

Tom Couro 10 15 13 2

David Clancy 12 12 14 2

Jose Cano 11 13 15 1

The direct labor rate earned per hour by the three employees is as follows:

Employee Direct Labor Rate

Tom Couro $32

David Clancy 36

Jose Cano 28

The process improvement category includes training, quality improvement, and other indirect tasks.

	Hours Job 301	Hours Job 302	Hours Job 303	Hours Process Improvement
Tom Couro	10	15	13	2
David Clancy	12	12	14	2
Jose Cano	11	13	15	1

Employee	Direct Labor Rate
Tom Couro	$32
David Clancy	36
Jose Cano	28

Question Content Area

a. Journalize the entry to record the factory labor costs for the week. If an amount box does not require an entry, leave it blank.

Account	Debit	Credit
	- Select -	- Select -
	- Select -	- Select -
	- Select -	- Select -

b. Assume that Jobs 301 and 302 were completed but not sold during the week and that Job 303 remained incomplete at the end of the week. How would the direct labor costs for all three jobs be reflected on the financial statements at the end of the week? The direct labor costs for the completed jobs would become part of the cost of goods sold OR finished goods inventory OR work in process inventory? Select one.

The direct labor costs for Job 303 would be remain part of the cost of goods sold OR finished goods inventory OR work in process inventory? Select one.