The factory payroll for the week is $200,000, consisting of $140,000 earned by 100 direct laborers and
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The factory payroll for the week is $200,000, consisting of $140,000 earned by 100 direct laborers and $60,000 earned by 30 indirect laborers. The total of factory bonuses to be received at yearend is estimated at $400,000. All factory workers receive a twoweek paid vacation and five paid holidays.
Required:
Prepare the entries to distribute the weekly payroll and the costs and liabilities related to the bonus, vacation pay, and holiday pay, assuming that the fringe benefits of the direct laborers are charged to Factory Overhead.
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Factory Overhead Bonus 8 000 Factory Overhead Vacation Pay 8 000 Factory ...View the full answer
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