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Journalize the entry to record the factory labor costs

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Reference no: EM132684500

Problem - Entries for direct labor and factory overhead

Kraus Industries Inc. manufactures recreational vehicles. Kraus uses a job order cost system. The time tickets from July jobs are summarized below.

Job 501 $4,200

Job 502 3,200

Job 503 2,870

Job 504 3,650

Factory supervision 2,450

Factory overhead is applied to jobs on the basis of a predetermined overhead rate of $12 per direct labor hour. The direct labor rate is $30 per hour.

Required -

(a) Journalize the entry to record the factory labor costs.

(b) Journalize the entry to apply factory overhead to production for July.

Reference no: EM132684500

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