Question

Managerial accounting Journal entries

1)

Journal entry worksheet 4 5 6 7 8 11 > Cost for employee services incurred as follows: Direct labor $156,000 Indirect labor $283,400 Sales commissions $29,000 Administrative salaries $49,000 Note: Enter debits before credits. Transaction Debit Credit General Journal Work in process Manufacturing overhead Sales commisions expense Salaries and wages payable Cash Record entry Clear entry View general journal

2) 3)

Answer 1

Ans. 1	Transaction	General Journal	Debit	Credit
	c	Work in process	$156,000
		Manufacturing overhead	$283,400
		Sales commissions expense	$29,000
		Administrative salaries expense	$49,000
		Salaries and wages payable		$517,400
		(To record cost for employee services incurred)
		*Indirect labor is a manufacturing overhead cost.
Ans. 2	Transaction	General Journal	Debit	Credit
	g	Manufacturing overhead	$16,000
		Depreciation expense	$4,000
		Accumulated depreciation		$20,000
		(To record depreciation on equipment)
		*Expenses related to factory are listed under manufacturing overhead account.
Ans. 3	Transaction	General Journal	Debit	Credit
	d	Manufacturing overhead	$13,700
		Rent expense	$4,400
		Cash		$18,100
		(To record rent expenses)
		Rent expense = $18,100 - $13,700 = $4,400.