RESOURCES CAL CULATO Do It Review 151 During the curr ent mo

RESOURCES CAL CULATO Do It! Review 15-1 During the curr ent month, Wacholz Company incurs the following manufacturing costs (a) (b) (c) Purchased raw materials of $18,800 on account. Incurred factory labor of $41,300. of that Factory utilities of ise 15-3 ise 154 ise 15-5 ise 15-6 amount, $30,800 relates to wages payable and $10,500 relates to payroll taxes payable. paid 93.700 are payable, pre factory property taxes of $2,650 have expired, and depreciation on the factory building is $8,700. acturing cost. (Credit account titles are automatically indented when amount is entered. Do not indent manually) No. Account Titles and Explanation Debit Credit (Purchases of raw materials on account) 52A (To record factory labor costs) ctive (To record overhead costs) Click if you would like to Show Work for this question: Open Show work LIST OF ACCOUNTS

Solution

Journal Entries:

Date	Accounts Titles	Debit $	Credit $
a	RM	18800
	Account Payable		18800
	(purchase of raw material on account)
b	Factory Labor	41300
	Wages payable		30800
	Payroll taxes payable		10500
	(to record factory labor costs)
c	Factory Overhead Expenses	15050
	Factory utilities		3700
	Prepaid Factory property taxes		2650
	Depreciation		8700
	(to record overhead costs)