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Prepare entries for facsory labor Excel Prepare journal entries for manufac uring costs E2.1 (LO 1, 2), AP The gross earnings of the factory
Prepare entries for facsory labor Excel Prepare journal entries for manufac uring costs E2.1 (LO 1, 2), AP The gross earnings of the factory work January are $76,000. The employer's payroll taxes for the factory payroll are $8,00 to be paid by the employer on this payroll are $6,000. Of the total accumulated cost of factory labor, M is related to direct labor and 15% is attributable to indirect labor. Instructions a. Prepare the entry to record the factory labor costs for the month of January. b. Prepare the entry to assign factory labor to production. E2.2 (LO 1, 2, 3, 4), AP Stine Company uses a job order cost system. On May 1, the company has balance in Work in Process Inventory of $3,500 and two jobs in process: Job No. 429 $2,000, and Jch No. 430 $1,500. During May, a summary of source documents reveals the following. Analyze a job cost sheet and prepare entries for manufacturing costs Job Number Materials Requisition Slips Labor Time Tickets 429 $2,500 $1,900 430 431 3,500 4,400 3,000 General use $10,400 800 7,600 $12,500 1,200 $11,200 $13,700 Stine Company applies manufacturing overhead to jobs at an overhead rate of 60% of direct labor cost Job No. 429 is completed during the month. Instructions a. Prepare summary journal entries to record (1) the requisition slips, (2) the time tickets, (3) the as- signment of manufacturing overhead to jobs, and (4) the completion of Job No. 429. b. Post the entries to Work in Process Inventory, and prove the agreement of the control account with the job cost sheets. (Use a T-account.) E2.3 (LO 1, 2, 3, 4), AP A job order cost sheet for Ryan Company is shown below. Job No. 92 For 2,000 Units Date Direct Materials Direct Manufacturing Labor Overhead Beg. bal. Jan. 1 5,000 6,000 4,200 8238 6,000 12 8,000 6,400 25 2,000 27 4,000 3,200 13,000 18,000 13,800 Direct materials Direct labor Cost of completed job: Manufacturing overhead Total cost Unit cost ($44,800+ 2,000) $13,000 18,000 13,800 $44,800 $22.40
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