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Q52-3 Your company use Job Costing to record manufacturing costs. Prepare Journal Entries for the following transactions occurred in this month: A) Depreciation charge for
Q52-3 Your company use Job Costing to record manufacturing costs. Prepare Journal Entries for the following transactions occurred in this month: A) Depreciation charge for the month total $68,500 70% of the depreciation charge related to the factory machines 30% of the depreciation charge related to the office machines B) Employee salaries amount to $52,000 were paid by cash 70% of the salaries paid were for factory assembly line workers 5% of the salaries paid were for factory maintenance workers 25% of the salaries paid were for admin and sales workers C) Prepaid insurance $9,450 had consumed 65% of the insurance related to the factory building 35% of the insurance related to the office building D) Manufacturing overhead cost $48,350 was applied to jobs
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