The weekly time tickets indicate the following distribution of labor hours for three direct labor employees:

The direct labor rate earned per hour by the three employees is as follows:
Frank Davis ........ $ 35
Miles Coultrain ......40
John Morgan ..........30
The process improvement category includes training, quality improvement, and other indirect tasks.
a. Journalize the entry to record the factory labor costs for the week.
b. Assume that Jobs 501 and 502 were completed but not sold during the week and that Job 503 remained incomplete at the end of the week. How would the direct labor costs for all three jobs be reflected on the financial statements at the end of the week?

Transcribed Image Text:

Hours Process Job 501 ob 502 Job 503 Improvement 14 10 12 12 Frank Davis Miles Couin 14 lohn Morgan 0 12 14