Prepare the entry to assign factory labor to production, Cost Accounting

Assignment Help:

The gross earnings of the factory workers for Vargas Company during the month of January are $66,000. The employer's payroll taxes for the factory payroll are 8,000. The fringe benefits to be paid by the employer on this payroll are $6,000. Of the total accumulated cost of factory labor, 85% is related to direct labor and 15% is attributable to indirect labor:

Instructions:

a) Prepare the entry to record the factory labor cost for the month of January
b) Prepare the entry to assign factory labor to production.

 

 


Related Discussions:- Prepare the entry to assign factory labor to production

Determine the incremental cost, Determine the Incremental Cost A compa...

Determine the Incremental Cost A company currently makes a component that has the given unit cost structure Direct Material Shs. 100

Why does rent control result in a shortage of rental unit, 1. Why does rent...

1. Why does rent control result in a shortage of rental units. 2. How does price elasticity of demand affect how much of a tax is passed on to the consumer and how much is absor

Profit and loss account, Both the parts, Profit and Loss Account and Tradin...

Both the parts, Profit and Loss Account and Trading Account of last account are interdependent upon each other. Gross Profit or loss plays a very important role in the calculation

Prepare cost sheet, A job order cost sheet for Lowery Company is shown belo...

A job order cost sheet for Lowery Company is shown below Date Direct Materials Direct Labor Manufacturing overhead Beg Bal Jan 1 5,000 6,000 5,100 8 6,000 12 8,000 6,400 25 2,000 2

Why is the statement of cash flows useful, Explain:- Q Why is the statem...

Explain:- Q Why is the statement of cash flows useful? Q. How is it possible for a company to suffer a net loss for a given year, yet produce a positive net cash flow from opera

Compute the second years tax amortization, Smith Corporation purchased an i...

Smith Corporation purchased an intangible asset for $110,000. Compute the second year's tax amortization. The second year would be a full year's amortization. The company estimates

Match the item below by entering the appropriate code letter, Match the ite...

Match the items below by entering the appropriate code letter A. Controller B. Deficit C. Payout Ratio D. Stock Dividend E. Declaration Date F. Preemptive right G. Par Value H. L

Comparison between marginal and absorption costing, Comparison between Marg...

Comparison between Marginal Costing and Absorption Costing There are accountants who favour all costing method. Arguments in favour about absorption costing are specified a

Determine the amount of depreciation expense, Waylander Coatings Company pu...

Waylander Coatings Company purchased waterproofing equipment on January 6, 2013, for $320,000.The equipment was expected to have a useful life of four years, or 20,000 operating ho

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd