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Accounts Payable Accounts Receivable Cost of Goods Sold Factory Labor Factory Wages Payable Finished Goods...

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Accounting

imageAccounts Payable Accounts Receivable Cost of Goods Sold Factory Labor Factory Wages Payable Finished Goods Inventory Labor Price Variance Labor Quantity Variance Manufacturing Overhead Materials Price Variance Materials Quantity Variance Overhead Variance Raw Materials Inventory Sales Selling and Administrative Expenses Work in Process Inventory

Journalize the following transactions for Shelton, Inc (a) Incurred direct labor costs of s23,100 for 4,230 hours. The standard labor cost was $23,730. (b) Assigned 4,230 direct labor hours costing $23,100 to production. Standard hours were 4,370. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to o decimal places, e.g. 125.) No. Account Titles and Explanation Credit Debit (a) (b)

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