When factory payroll costs are recorded in a job cost accounting system: - 10466

Solution Posted by
yousafbhutta

yousafbhutta

Rating : (28)C
Solution Detail
Price: $0.50
  • From: Business,
  • Posted on: Mon 28 May, 2012
  • Request id: None
  • Purchased: 0 time(s)
  • Average Rating: No rating
Request Description

 

When factory payroll costs are recorded in a job cost accounting system:

 

Answer

 

 

Factory Payroll is debited and Goods in Process is credited.

 

Goods in Process Inventory and Factory Overhead are debited and Factory Payroll is credited.

 

Cost of Goods Manufactured is debited and Direct Labor is credited.

 

Direct Labor and Indirect Labor are debited and Factory Payroll is credited.

 

Goods in Process is debited and factory payroll is credited.

 

Solution Description

 

When factory payroll costs are recorded in a job cost accounting system:

 

Answer