To manufacture job No. 108, X company incurred $95,000 of factory labor, of which $3,000 were employer payroll taxes. The entry to record this transaction would include: * A debit to Factory Labor $95,000, a credit to Employer Payroll Taxes Payable $3,000 and a credit to Factory Wages Payable $92,000 A debit to Factory Labor $98,000, a credit to Employer Payroll Taxes Payable $3,000 and a credit to Factory Wages Payable $95,000 A debit to Factory Labor $92,000, a debit to Employer Payroll Taxes Payable $3,000 and a credit to Factory Wages payable $95,000 O None of the above

To manufacture job No. 108, X company incurred $95,000 of factory labor, of which $3,000 were employer payroll taxes. The entry to record this transaction would include: * A debit to Factory Labor $95,000, a credit to Employer Payroll Taxes Payable $3,000 and a credit to Factory Wages Payable $92,000 A debit to Factory Labor $98,000, a credit to Employer Payroll Taxes Payable $3,000 and a credit to Factory Wages Payable $95,000 A debit to Factory Labor $92,000, a debit to Employer Payroll Taxes Payable $3,000 and a credit to Factory Wages payable $95,000 O None of the above

Name: acturing Overhead $1,000 and acredit to Raw Material Inventory $9,000
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Description: acturing Overhead $1,000 and acredit to Raw Material Inventory $9,000O None of the aboveTo manufacture job No. 108, X company incurred $95,000 of factory labor, ofwhich $3,000 were employer payroll taxes. The entry to record this transactionwould in

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 13EB: During the month, Job Arch2 used specialized machinery for 350 hours and incurred $700 in utilities...

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During the month, Job Arch2 used specialized machinery for 350 hours and incurred $700 in utilities on account. $400 in factory depreciation expense, and $200 in property tax on the factory. Prepare journal entries for the following: A. Record the expenses incurred. B. Record the allocation of overhead at the predetermined rate of $1.50 per machine hour.
to manufacture job No. 108, X company incurred $63,000 of factory labor, of which $6,000 were employer payroll taxes. The entry to record this transaction would include: * A debit to Factory Labor $63,000, a credit to Employer Payroll Taxes Payable $6,000 and a credit to Factory Wages Payable $57,000 A debit to Factory Labor $57,000, a debit to Employer Payroll Taxes Payable $6,000 and a credit to Factory Wages payable $63,000 A debit to Work in Process $63,000, a credit to Employer Payroll Taxes Payable $6,000 and a credit to Factory Labor $57,000 None of the above
actory Labor S98,000, a credit to Employer Payroll Taxes Payable $3,000 and a credit to Factory Wages Payable $95,000 None of the above Time tickets indicated 900 labor hours in the production of Job .115, out of which 600 were direct labor hours. The company pays $8 per each labor hour. The entry to record this transaction is: * A debit to Work in Process Inventory $4,800, a debit to manufacturing overhead $2,400, and a credit to Factory Labor $7,200 O A debit to Work in Process Inventory $7,200 and a credit to Factory Labor $7,200 A debit to Factory Labor $4,800, a debit to manufacturing overhead $2.400, and a credit to Work in Process Inventory $7,200 None of the above
Kline Manufacturing has the following labor costs: Factory-Gross wages Factory Net wages Employer Payroll Taxes Payable O $470,000. The entry to record the cost of factory labor and the associated payroll tax expense will include a debit to Factory Labor for O $450,000. O $550,000. O $500,000. — $500,000 420,000 50,000
Kline Manufacturing has the following labor costs: Factory-Gross wages $500,000 Factory-Net wages 420,000 Employer Payroll Taxes Payable The entry to record the cost of factory labor and the associated payroll tax expense will include a debit to Factory Labor for 50,000
Kline Manufacturing has the following labor costs. Factory - Gross wages = $195,000 Factory - Net wages = $160,000 Employer Payroll Taxes Payable = $25,000 The entry to record the cost of factory labor and the associated payroll tax expense will include a debit to Factory Labor for what amount?
Marie Corporation hast the following transactions: 1. Purchased raw materials from supplier amounting to P 40,000 on account. 2. During the month, raw materials costing P 30,000 were issued to production. (P 10,000 pertains to indirect materials and the remaining balance are direct materials) 3. Payroll of production personnel totaled P 50,000 (gross of taxes) 4. Payroll of selling and admin personnel is P 10,000 5. Applied all the labor cost to production. 6. Incurred other overhead cost of P 15,000. 7. Applied all overhead cost to production at the end of the month. 8. Ending Work in Process is P 1,000; NO beginning Work in process. 9. Ending finished goods inventories; costing P 45,000. NO beginning finished goods. 10. Sales on account is P 70,000 11. Cash sales is P 20,000. What is the net income?
A debit to Factory and a credit to Factory Wages Payable $95,000 O None of the above Time tickets indicated 900 labor hours in the production of Job.115, out of which 600 were direct labor hours. The company pays $8 peach labor hour. The entry to record this transaction is: * A debit to Work in Process Inventory $4,800, a debit to manufacturing overhead $2,400, and a credit to Factory Labor $7,200 A debit to Work in Process Inventory $7,200 and a credit to Factory Labor $7,200 A debit to Factory Labor $4,800, a debit to manufacturing overhead $2,400, and a credit to Work in Process Inventory $7,200 None of the above POM C QH
[The following information applies to the questions displayed below.] Watercraft's predetermined overhead rate is 200% of direct labor. Information on the company's production activities during May follows. a. Purchased raw materials on credit, $240,000. b. Materials requisitions record use of the following materials for the month. $ 49,000 32,500 20, 200 22,800 6,600 131,100 19,500 $ 150,600 Job 136 Job 137 Job 138 Job 139 Job 140 Total direct materials Indirect materials Total materials requisitions c. Time tickets record use of the following labor for the month. These wages were paid in cash. Job 136 $12,100 Job 137 10, 700 Job 138 37,700 39,200 3,400 103,100 25,000 $ 128, 100 Job 139 Job 140 Total direct labor Indirect labor Total labor cost
Buckhorn Company's accounting records noted the following amounts for company payroll costs. What amount of payroll would be categorized as a period cost? Payroll Costs: Marketing director salary Factory manager salary Commissions paid to sales staff Administrative personnel wages Wages of production workers Multiple Choice C $302,000 $327,000 $615,000 $376,000 $164,000 $99,000 $74,000 $64,000 $214,000
a. Incurred $105,000 of direct labor in its Mixing department and $90,000 of direct labor in its Shaping department. Hint. Credit Factory Wages Payable. b. Incurred indirect labor of $23,000. Hint. Credit Factory Wages Payable. View transaction list Journal entry worksheet
Swifty Corporation has the following labor costs: Factory-Gross wages Factory-Net wages Employer Payroll Taxes Payable $580000 O $638000. O $580000. $528000. $522000. 470000 58000 The entry to record the cost of factory labor and the associated payroll tax expense will include a debit to Factory Labor for