Question

Factory Overhead Costs During August, Jernigan Company incurred factory overhead costs as follows: indirect materials, $3,040; indirect labor, $5,340; utilities cost, $1,490; and factory depreciation, $5,160. Journalize the entry to record the factory overhead incurred during August. For a compound transaction, if an amount box does not require an entry, leave it blank.

Answer 1

Answer:

Dr Factory Overhead 15,030

Cr Materials 3,040

Cr Wages Payable 5,340

Cr Utilities Payable 1,490

Cr Accumulated Depreciation—Factory 5,160

Explanation:

Preparation of Journal entry to record the factory overhead incurred during August.

Dr Factory Overhead 15,030

(3,040+5,340+1,490+5,160)

Cr Materials 3,040

Cr Wages Payable 5,340

Cr Utilities Payable 1,490

Cr Accumulated Depreciation—Factory 5,160