During January, its first month of operations, Knox Company accumulated the foll

Question

During January, its first month of operations, Knox Company accumulated the following manufacturing costs: raw materials $5,850 on account, factory labor $6,970 of which $5,806 relates to factory wages payable and $1,164 relates to payroll taxes payable, and utilities payable $3,020. During January, time tickets show that the factory labor of $6,970 was used as follows: Job 1 $2,366, Job 2 $1,707, Job 3 $1,645, and general factory use $1,252.

Prepare a summary journal entry to record factory labor used.

Explanation / Answer

Date Title Debit credit 1 Work in process 5718 Manufacturing overhead 1252 Factory wages payable 5806 Payroll taxes payable 1164 [being factory labor used recorded]

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