Schumacher Industries Inc manufactures recreational vehicles Schumacher Industries uses a job order cost system The time tickets from June jobs are summarized as follows Job 11 101 $5,480 Job 11 102 6,090 Job 11 103 4,400 Job 11 104 4,086 Job 11 105 18,270 Factory supervision 2,640 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 June 30 entry to record the factory labor costs b Journalize a second entry on June 30 to apply factory overhead to production for June Round your intermediate calculation to nearest whole number Refer to the chart of accounts for the exact wording of the account titles CNOW journals do not use lines for spaces or journal explanations Every line on a journal page is used for debit or credit entries Do not add explanations or skip a line between journal entries CNOW journals will automatically indent a credit entry when a credit amount is entered CHART OF ACCOUNTS Schumacher Industries Inc General Ledger ASSETS 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 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 REVENUE 410 Sales 610 Interest Revenue a Journalize the June 30 entry to record the factory labor costs b Journalize a second entry on June 30 to apply factory overhead to production for June Round your intermediate calculation to nearest whole number Refer to the chart of accounts for the exact wording of the account titles CNOW journals do not use lines for spaces or journal explanations Every line on a journal page is used for debit or credit entries Do not add explanations or skip a line between journal entries CNOW journals will automatically indent a credit entry when a credit amount is entered PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST REF DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 2 3 4 5 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

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Schumacher Industries Inc. manufactures recreational vehicles. Schumacher Industries uses a job order cost system. The time tickets from June jobs are summarized as follows: Job

Schumacher Industries Inc. manufactures recreational vehicles. Schumacher Industries uses a job order cost system. The time tickets from June jobs are summarized as follows:

Job 11-101	$5,480
Job 11-102	6,090
Job 11-103	4,400
Job 11-104	4,086
Job 11-105	18,270
Factory supervision	2,640

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 June 30 entry to record the factory labor costs.*

b. Journalize a second entry on June 30 to apply factory overhead to production for June. Round your intermediate calculation to nearest whole number.*

*Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for spaces or journal explanations. Every line on a journal page is used for debit or credit entries. Do not add explanations or skip a line between journal entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.

CHART OF ACCOUNTS

Schumacher Industries Inc.

General Ledger

	ASSETS
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

	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

	REVENUE
410	Sales
610	Interest Revenue

	a. Journalize the June 30 entry to record the factory labor costs.*
	b. Journalize a second entry on June 30 to apply factory overhead to production for June. Round your intermediate calculation to nearest whole number.*
	*Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for spaces or journal explanations. Every line on a journal page is used for debit or credit entries. Do not add explanations or skip a line between journal entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.

PAGE 10

JOURNAL

ACCOUNTING EQUATION

	DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT	ASSETS	LIABILITIES	EQUITY
1
2
3
4
5

	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