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

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.

 

 

Posted Date: 3/29/2013 1:23:09 AM | Location : United States







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