Instructions Townsend Industries Inc. manufactures recreational vehicles. Townsend uses a job order cost system. The time tickets from November jobs are summarized as follows: $5,480 Job 201 Job 202 6,090 Job 203 4,400 Job 204 4,086 2,640 Factory supervision Factory overhead is applied to jobs on the basis of a predetermined overhead rate of $25 per direct labor hour. The direct labor rate is $46 per hour. Required: 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 of Accounts provided for the correct wording of account titles. Chart of Accounts CHART OF ACCOUNTS Townsend Industries Inc. General Ledger ASSETS REVENUE 410 Sales 610 Interest Revenue 110 Cash 121 Accounts Receivable 125 Notes Receivable 126 Interest Receivable 131 Materials 132 Work in Process 133 Factory Overhead 134 Finished Goods 141 Supplies 142 Prepaid Insurance 143 Prepaid Expenses 181 Land 191 Factory 192 Accumulated Depreciation-Factory EXPENSES 510 Cost of Goods Sold 520 Wages Expense 531 Selling Expenses 532 Insurance Expense 533 Utilities Expense 534 Office Supplies Expense 540 Administrative Expenses 560 Depreciation Expense-Factory 590 Miscellaneous Expense 710 Interest Expense Chart of Accounts 181 Land 560 Depreciation Expense-Factory 590 Miscellaneous Expense 191 Factory 192 Accumulated Depreciation-Factory 710 Interest Expense LIABILITIES 210 Accounts Payable 221 Utilities Payable 231 Notes Payable 236 Interest Payable 241 Lease Payable 251 Wages Payable 252 Consultant Fees Payable EQUITY 311 Common Stock 340 Retained Earnings 351 Dividends 390 Income Summary Journal Required: 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 of Accounts for exact wording of account titles PAGE 10 JOURNAL ACCOUNTING EQUATION DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY DATE Nov. 30 Work in Process Factory Overhead Wages Payable Work in Process Nov. 30 Factory Overhead