Question
hello I'm stuck half way through my problem. Need some un sticking please and thank you Finn Manufacturing Company uses a job order cost accounting
hello I'm stuck half way through my problem. Need some un sticking please and thank you
Finn Manufacturing Company uses a job order cost accounting system and keeps perpetual inventory records. Prepare journal entries to record the following transactions during the month of June.
June 1 purchased raw materials for 20,000 on account
8 raw materials requisitioned by production
Direct Materials 8000
InDirect Materials 1000
15 paid factory utilities 2100 and repairs for factory equipment 8000
25 incurred 108000 of factory labor
25 time tickets indicated the following
direct labor 7000 hrs x $12 per hr =84000
indirect labor 3000 hrs x $ 8 per hr = 24000
25 applied manufacturing overhead to prduction based on a predetermined overhead rate of $7 per direct labor hour worked
28 goods costing 18000 were competed in the factory and were transferred to finish goods
30 goods costing 15000 were sold for 20000 on account
what I have so far
Jun 1 Raw Materials Inventory 20,000
accounts payable 20,000
Jun 8 Work In Process 8,000
Manufacturing Overhead 1,000
Raw Materials Inventory 9,000
Jun 15 Manufacturing Overhead 10,100
factory utilities 2,100
factory equip 8,000
Jun 25
I'm stuck on the incurred 108,000 of factory labor
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