Refer to M2-10. 1. Prepare the journal entry to record Fairfield Companys payroll Costs. 2. The company applies manufacturing overhead to products at a predetermined

Refer to M2-10.

1. Prepare the journal entry to record Fairfield Company’s payroll Costs.
2. The company applies manufacturing overhead to products at a predetermined rate of $50 per direct labor hour. Prepare the journal entry to apply manufacturing overhead to production.

Item Description Total Cost Hourly labor wages 750 hours$30 per hour 200 hours for Job 101$6,000 300 hours for Job 1029,000 Factory supervision Production engineer Factory janitorial work Selling, general, and administrative salaries 250 hours for Job 1037,500 $22,500 4,000 8,000 2,500 9,000 $46,000 Total payroll costs