### What is the difference between a job and a job lot

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Question: 1. What are four sources of information for recording costs in the Factory Overhead account?

2. What events result in a debit to Factory Payroll? What events result in a credit?

3. During the current month, a company that uses a job order cost accounting system incurred a monthly factory payroll of \$120,000, paid in cash. Of this amount, \$30,000 is classified as indirect labor and the remainder as direct. Prepare entries to record these transactions.

4. What is the difference between a job and a job lot?

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