Schimacher Industries ino. manulackures recreational vehicles. Schumacher industrios uses job ondet sostog. The fime. fickets from June jobs are sumrearied as follows. Factary overhead is aspled to jobs on the basis of a predesermined overhead rate of $27 pet direct labor hour. The drect labor fate is 855 per hour. Aequired: a downance the dune 30 enty to recors the factary labor costs. b downalze a second entry an whe 30 do apply factory oveiheds to production for dune. Chart of Accounte General Journal Entries for direct labor and factory overhead a. Journalze the sune 30 ontry to record the factory labor costs. b. Wownalize a secand entry on Jine 50 to apply factory ovemedd to prodaction for dine. Predetermined Factory Overbead Rate Poehiling Medical Center has a single operating room that is used by local physicians to perform surgical procedures. The cost of using the operating room is accumulated by each patient procedure and includes the direct materials costs (drugs and medical devices), piyysician surgical time, and operating room overhead. On ianuary 1 of the current year, the annual operating room overhead is estimated to be: The overhead costs wil be asvigned to procedures, based on the number of surgicat room hours, psehing Medical Center expects to use the operating room an averege of elght hours per day, seven days per week. In add tion, the operating room witi be shut dewn two weeks per year for general repairs. a. Determine the predetermined operating room overhead rate for the yeaf. per hour b. I bony 3ones had a 4-heur procedure on 3bnuary 22. How much operating room overhesd would be charged to her procedure, using the rate determined in part (a)? c. During January, the operating room was used 186 hours. The actual overhesd costs incurred for lantuary nere s43, 700 . Datermine the overhead under- of overapotied for the penos Entry for factory labor costs Instructions A summary of the time tickets is as follows: Required: Journalize the entry on Dec. 31 to record the factory labor costs. Chart of Accounts CHART OF ACCOUNTS General Ledger ASSETS REVENUE 110 Cash 410 Sales 121 Accounts Receivable 610 Interest Revenue 125 Notes Receivable 126 Interest Receivable EXPENSES 131 Materials 510 Cost of Goods Sold 132 Work in Process 520 Wages Expense 133 Factory Overhead 531 Selling Expenses 134 Finished Goods 532 Insurance Expense 141 Supplies 533 Utilities Expense 142 Prepaid Insurance 534 Office Supplies Expense 143 Prepaid Expenses 540 Administrative Expenses 181 Land 569 Depreciation Expense-Factory 191 Factory 590 Miscellaneous Expense 192 Accumulated Depreciation-Factory 710 Interest Expense Entry for factory labor costs Print ltem \begin{tabular}{|l|l|} \hline Instructions & Chart of Accounts General Journal \\ \hline \end{tabular} Chart of Accounts 143 Prepaid Expenses 540 Administrative Expenses 181 Land 569 Depreciation Expense-Factory 191 Factory 590 Miscellaneous Expense 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 Joumblize the entry an Dee. 3t to recary the factory iabor cests