1:19 PM 59% Pad c edugen.wileyplus.com utc learn Yahoo Se Wiley PLUS References
ID: 2422276 • Letter: 1
Question
1:19 PM 59% Pad c edugen.wileyplus.com utc learn Yahoo Se Wiley PLUS References Reset Password nstagram Wiley PLUS Kimmel, Accounting: Tools for Business Decision Making, 5e em Announcements (1 Unread NEXT CALCULATOR PRINTER VERSION BACK ASSIGNMENT RESOURCES Exercise 15-1. Chapter 15 Exercises The gross earnings of the factory workers for Vargas Company during the month of January are $75,300. The employer's payroll taxes for the factory payroll are $9,100. The fringe benefits to be paid by the employer on this payroll are $5,100. Exercise 15-2 (Part of the total accumulated cost of factory labor, 85% is related to direct labor and 15 is attributable to indirect labor. Level Submission 2 Exercise 15-2 (a) Prepare the entry to record the factory labor costs for the month of January. 2 Exercise 15-3 (b) Prepare the entry to assign factory labor to production Exercise 15-4 2 Exercise 15-5 (Part (credit account titles are automatically indented when amount is entered. Do not indent manually.) Level Submission 2 Exercise 15-5 No. Account Titles and Explanation Credit Debit Exercise 15.6 (Part Level Submission) 2 Exercise 15-6 2 Exercise 15-7 Exercise 15-9 (Part Level Submission Exercise 15.9 Exercise 15-10 (part Level Submission 2 Exercise 15-10 Exercise 15-11 (Part Level Submission 2 Exercise 15-11 Exercise 15-12 Click if you would like to show Work for this question Open Show Work 2 Exercise 15-13 (part Level Submission Exercise 15-13 Review Score Review Results by Stud Objective By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your nstructo Question Attempts: o of 3 used SAVE FOR LATER SUBMIT ANSWER A S D F G HI J K L 123Explanation / Answer
a) Entry to record facory labour cost for the month of January:
1. Salaries Account Debit $ 75,300
To Factory Workers Account $ 66,200
To Payroll Taxes Account $ 9,100
(Explanation: Factory worker accoount created after deducting the Payroll Taxes)
2. Fringe Benefits Account Debit $ 5,100
To Factory Worker Account $ 5,100
(Explanation: The fringe benefits debited to the extent of $ 5,100)
b) Entry to assign Factory labour to Production:
1. Gross salaries = $ 75,000
2. Fringe Benefits = $ 5,100
Total Payroll Cost = $75,300 + $ 5,100 = $ 80,400.
The labour assigned to Production = 85% of labour cost i.e 85% of 80,400 = $ 68,340
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.