ment During the current month, Wacholz Company incurs the following manufacturin
ID: 340522 • Letter: M
Question
ment During the current month, Wacholz Company incurs the following manufacturing costs. (b) (e) Incurred factory labor of $41,400. Of that amount, $30,400 relates to wages payable and $11,000 relates to payroll taxes payable Factory utilities of $3,700 are payable, prepaid factory property taxes of $2,530 have expired, and depreciation on the factory building is $8,200 Prepare journal entries for each type of manufacturing cost. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) CreditExplanation / Answer
Answer:
NO
Description
Debit $
Credit $
(A)
Raw Material Inventory
17600
Account Payable
17600
(B)
Factory Labor
41400
Factory Wages Payable
30400
Employer Payroll taxes Payable
11000
( C)
Manufacturing Overhead
14430
Prepaid property Taxes
2530
Accumulated Depreciation-Building
8200
Utilities payable
3700
NO
Description
Debit $
Credit $
(A)
Raw Material Inventory
17600
Account Payable
17600
(B)
Factory Labor
41400
Factory Wages Payable
30400
Employer Payroll taxes Payable
11000
( C)
Manufacturing Overhead
14430
Prepaid property Taxes
2530
Accumulated Depreciation-Building
8200
Utilities payable
3700
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