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Fairfield Companys payroll costs for the most recent month are summarized here: Item Description Total Cost Hourly labor wages 940 hours @ $24 per hour
Fairfield Companys payroll costs for the most recent month are summarized here:
Item | Description | Total Cost | |
---|---|---|---|
Hourly labor wages | 940 hours @ $24 per hour | ||
190 hours for Job 101 = | $ 4,560 | ||
280 hours for Job 102 = | 6,720 | ||
470 hours for Job 103 = | 11,280 | $ 22,560 | |
Factory supervision | 4,650 | ||
Production engineer | 7,000 | ||
Factory janitorial work | 1,200 | ||
Selling, general, and administrative salaries | 9,100 | ||
Total payroll costs | $ 44,510 |
Required:
1. & 2. Prepare the journal entries for payroll and to apply manufacturing overhead to production. The company applies manufacturing overhead to products at a predetermined rate of $48 per direct labor hour.
1. \& 2. Prepare the journal entries for payroll and to apply manufacturing overhead to production. The company applies manufacturing overhead to products at a predetermined rate of $48 per direct labor hour. Note: If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account fieldStep by Step Solution
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