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During January, time tickets show that the factory labor of $7,000 was used as follows: Job 1 $2,330, Job 2 $1,750, Job 3 $1,700, and general factory use $1,220. Prepare a summary journal entry to record factory labor used.

Sagot :

Answer and Explanation:

The journal entry to record the usage of the factory labor is as follows;

Work in process ($2,330 + $1,750 + $1,700) $5,780

Manufacturing overhead $1,220

              To Factory labor $7,000

(Being the factory labor used is recorded)

Here the work in process and manufacturing overhead is debited as it increased the asset and increased the expenses while on the other hand the factory labor is credited

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