23) Specialty Wood Products company had the following manufacturing labor costs last month:
Woodworkers' wages
|
$100,000
|
Indirect laborers' wages
|
$20,000
|
Maintenance personnel wages
|
$10,000
|
Please provide the journal entry to record the incurrence of these labor costs.
24) Broxsie Fabrication Company issued $40,000 of direct materials to production and $5,500 of indirect materials to production. Please prepare the journal entry to record the transaction.
25) Carlton Manufacturing Company purchased $65,000 of raw materials on account. The materials will be used to produce furniture. Please provide the journal entry for the purchase of materials.
Learning Objective 17-3
1) All manufacturing overhead costs incurred are accumulated as debits to a general ledger account titled Manufacturing overhead.
2) In a manufacturing operation, depreciation of the plant and plant equipment should be debited to Depreciation expense.
3) The entry to allocate manufacturing overhead costs to work in process requires a debit to Manufacturing overhead.
4) In a manufacturing operation, taxes and insurance for the plant should be debited to Manufacturing overhead.
5) When manufacturing overhead is allocated, the amount is recorded as a debit to Finished goods and a credit to Work in process.
6) When manufacturing overhead is allocated, the amount is recorded as a debit to Work in process and a credit to Manufacturing overhead.
7) When manufacturing overhead costs are incurred, the amounts are recorded as a credit to Manufacturing overhead.