Question

A summary of the time tickets for the current month follows:

Answer 1

Answer and Explanation:

The journal entry to record the factory labor cost is shown below:

Work in progress  ($2,060 + $1,710 + $3,130 + $3,520 + $2,150 + $1,410 + $9,540) $23,520

Factory Overhead $10,980

         To wages payable  $34,500

(to record the factory labor cost)

Here work in process and factory overhead is debited as it increased the assets and expenses and credited the wages payable as it also increased the liabilities