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

What is life-cycle costing, Consider the following information, prepared ba...

Consider the following information, prepared based on a capacity of 40,000 units: Category Cost per Unit Variable manufacturing costs

Cash flow statement, In this section we have tried to develop the concept o...

In this section we have tried to develop the concept of flow of funds inside the organization. Starting along with the funds requirement for an organization, we have tried to trace

First in first out or fifo method - work in progress, First In First Out or...

First In First Out or FIFO Method - Work in Progress This method considers merely those costs incurred throughout the recent period.  Equivalent units are calculated given a

Group bonus plan, Group Bonus Plan There are specific operations or j...

Group Bonus Plan There are specific operations or jobs that require to be done collectively via a group of workers, as an example of, continuous production work flows in asse

Calculate development cost, Candler Inc a computer software development fir...

Candler Inc a computer software development firm has stock outstanding as follows: 40,000 shares of $2 nonparticipating, noncumulative preferred stock of $10 par, and 250,000 share

Assignment of variance in variance calculation, Assignment of Variance in V...

Assignment of Variance in Variance Calculation In variances calculating, the calculations require to be detailed sufficient hence the responsibility for the variance can be a

Creating budget and annual operating budget assignment, This assignment wil...

This assignment will consist of developing a center-based financial operating budget. A break-even and Cash-flow projection are not required for this assignment. Students will deve

Find the cost of equity of company, Outdoor Travel Inc. needs to estimate t...

Outdoor Travel Inc. needs to estimate the cost of capital for the evaluation of capital expenditures. A typical project is financed with 25% debt-to-value ratio (i.e., D/(D+E) =

Required the research of the statement of cash flows, This question tested ...

This question tested their knowledge of intended reporting but more importantly requisite them to apply their knowledge and consider the impact from the investors' perspective.

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