90.2K

Verified Solution

Link Copied!

The weekly time records indicate the following distribution of labor hours for three direct labor employees:The direct labor rate earned per hour by the three employees is as follows:

Leavitt $$18$

Stone $,25$

Hendrix $21$

The process improvement category includes training, quality improvement, housekeeping, and other indirect tasks.

a$.$ Determine the amounts of factory labor costs transferred to Work in Process and Factory Overhead for the week.

Factory labor costs transferred to Work in Process

Factory labor costs transferred to Factory Overhead

$$

for all three jobs be reflected on the financial statements at the end of the week?

Direct Labor Costs

Job $560$A

Job $560$B

Job $560C$

Line Item Description Hours

Job $560$A Hours

Job $560$B Hours

Job $560$C Hours

Process

Improvement

Eva Leavitt $231183$

Micah Stone $915145$

Travis Hendrix $131585$

The direct labor rate earned per hour by the three employees is as follows:

Line Item Description Amount

Leavitt $$18$

Stone $25$

Hendrix $21$

The process improvement category includes training, quality improvement, housekeeping, and other indirect tasks.

a$.$ Determine the amounts of factory labor costs transferred to Work in Process and Factory Overhead for the week.

Line Item Description Amount

Factory labor costs transferred to Work in Process $fill in the blank $1$

Factory labor costs transferred to Factory Overhead $fill in the blank $2$

b$.$ Assume that Jobs $560$A and $560$B were completed but not sold during the week and that Job $560$C remained incomplete at the end of the week. How would the direct labor costs for all three jobs be reflected on the financial statements at the end of the week?

Line Item Description Direct Labor Costs

Job $560$A

Job $560$B

Job $560$C

Answer & Explanation Solved by verified expert

See Answer