During the first quarter, Pharoah Company incurs the following direct labour costs: January $52,000, February $57,000,...

Transcribed Image Text:

During the first quarter, Pharoah Company incurs the following direct labour costs: January $52,000, February $57,000, and March $67,800. For each month, prepare the entry to assign overhead to production using a predetermined rate of 95% of direct labour costs (date journal entries as at the end of the month). (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Jan. 31 Work in Process Inventory Manufacturing Overhead Feb. 28 Work in Process Inventory Manufacturing Overhead pe here to search C Debit Credit $48880 $53580 $48880 $53580 During the first quarter, Pharoah Company incurs the following direct labour costs: January $52,000, February $57,000, and March $67,800. For each month, prepare the entry to assign overhead to production using a predetermined rate of 95% of direct labour costs (date journal entries as at the end of the month). (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Jan. 31 Work in Process Inventory Manufacturing Overhead Feb. 28 Work in Process Inventory Manufacturing Overhead pe here to search C Debit Credit $48880 $53580 $48880 $53580

Answer rating: 100% (QA)

First lets understand the situation Pharoah Company incurs direct labor costs of 52000 in January 57... View the full answer