Townsend Industries Inc. manufactures recreational vehicles. Townsend uses a job order cost system. The time tickets from
Question:
Townsend Industries Inc. manufactures recreational vehicles. Townsend uses a job order cost system. The time tickets from November jobs are summarized as follows:
Job 11-101.........................$6,240
Job 11-102...........................9,000
Job 11-103...........................7,210
Job 11-104...........................6,750
Factory supervision............4,000
Factory overhead is applied to jobs on the basis of a predetermined overhead rate of $18 per direct labor hour. The direct labor rate is $40 per hour.
A. Journalize the entry to record the factory labor costs.
B. Journalize the entry to apply factory overhead to production for November.
Step by Step Answer:
Managerial Accounting
ISBN: 978-1337270595
14th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac