During the current month, Wacholz Company incurs the following manufacturing costs. A) Purchased raw materials of $17,600 on account. B) Incurred factory labor of $41,400. Of that amount, $30,400 relates to wages payable and $11,000 relates to payroll taxes payable. C) Factory utilities of $3,700 are payable, prepaid factory property taxes of $2,530 have expired, and depreciation on the factory building is $8,200. Prepare journal entries for each type of manufacturing cost. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit CreditABCRequired:1. Purchases of raw materials on account. 2. To record factory labor costs. 3. To record overhead costs.
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Home » Business » During the current month, Wacholz Company incurs the following manufacturing costs. A) Purchased raw materials of $17,600 on account. B) Incurred factory labor of $41,400.