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Discussion Forum #1 - TIF 16-5: Recording Manufacturing Costs This is your first discussion: Todd Lay just began working as a cost accountant for Enteron Industries Inc., which manufactures gift items. Todd is preparing to record summary journal entries for the month. Todd begins by recording the factory wages as follows: Wages Expense 60,000 Wages Payable 60,000 Then the factory depreciation: Depreciation Expense-Factory Machinery Accumulated Depreciation-Factory Machinery Todd's supervisor, Jeff Fastow, walks by and notices the entries. The following conversation takes place: Jeff: That is a very unusual way to record our factory wages and depreciation for the month. Todd: What do you mean? This is the way I was taught in school to record wages and depreciation. entries. The following conversation takes place: Jeff: That is a very unusual way to record our factory wages and depreciation for the month. Todd: What do you mean? This is the way I was taught in school to record wages and depreciation. You know, debit an expense and credit Cash or payables or, in the case of depreciation, credit Accumulated Depreciation. Jeff: Well, it is not the credits I am concerned about. It is the debits-I do not think you have recorded the debits correctly. I would not mind if you were recording the administrative wages or office equipment depreciation this way, but I have got real questions about recording factory wages and factory machinery depreciation this way. Todd: Now I am really confused. You mean this is correct for administrative costs but not for factory costs? Well, what am I supposed to do-and why? 1. Play the role of Jeff and answer Todd's questions. 2. Why would Jeff accept the journal entries if they were for administrative costs? Discussions are important in an accounting course. Each discussion post that you submit must be at least 300 words in length. You are required to submit a second post that addresses one of your fellow classmates' posts. This post should be at least 150 words in length and should add something to the conversation