Townsend Industries Inc. manufactures recreational vehicles. Townsend uses a job order cost system. The time tickets from November jobs are summarized as follows: Job 11-101 $6,240
Job 11-102 9,000
Job 11-103 7,210
Job 11-104 6,750
Factory supervision 4,000
Factory overhead is applied to jobs on the basis of a predetermined overhead rate of $18 per direct labor hour. The direct labor rate is $40 per hour.
A. Journalize the entry to record the factory labor costs.
B. Journalize the entry to apply factory overhead to production for November.

Part A

Debit :Work In Process - Job 11-101 (6,240 x $40)  $249,600

Debit :Work In Process - Job 11-102 (9,000 x $40) $360,000

Debit :Work In Process - Job 11-103 (7,210 x $40) $280,400

Debit :Work In Process - Job 11-104 (6,750 x $40) $270,000

Credit: Salaries and Wages Payable (29,200 x $40)  $1,168,00

Part B

Debit :Work In Process - Job 11-101 (6,240 x $18)  $112,320

Debit :Work In Process - Job 11-102 (9,000 x $18) $162,000

Debit :Work In Process - Job 11-103 (7,210 x $18) $129,780

Debit :Work In Process - Job 11-104 (6,750 x $18) $121,500

Credit: Factory Overheads (29,200 x $18)  $525,600

Explanation:

The Work In Process Account is the account used to accumulate factory cost incurred. Debit this account to show accumulation of labour and overheads.

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