Answered

Westonci.ca is the best place to get answers to your questions, provided by a community of experienced and knowledgeable experts. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently. Join our platform to connect with experts ready to provide precise answers to your questions in different areas.

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

We hope this was helpful. Please come back whenever you need more information or answers to your queries. Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. We're here to help at Westonci.ca. Keep visiting for the best answers to your questions.