Lathan's Wood Products Company manufactures custom wooden cabinets and furniture. During the current period, 80 table legs
Question:
Materials (80 legs x $2.00 each) ................................... $160
Labor (2 hours x $12.00 per hour) ................................... 24
Factory overhead (2 hours x $24.00 per hour) ..................... 48
Total cost of spoilage on Job 5587 ................................... $232
Required:
Give the general journal entry to record spoilage cost and the transfer of the spoiled goods to a separate inventory account.
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