Time Tickets for Factory Employees During the Month of August

question 115

Essay

Time tickets for factory employees during the month of August are summarized as follows:
$$\begin{array} { l r } \text { Job } 919 & \$ 9,800 \\\text { Job } 920 & 14,650 \\\text { Job } 921 & 12,250 \\\text { Job } 922 & 16,000 \\\text { Total direct labor } & \$ 52,700 \\\text { Indirect labor } & 16,800 \\\text { Total labor cost } & \$ 69,500\end{array}$$
Prepare the necessary journal entries to record factory payroll.

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Definitions:

Clean Water

Water that is free from pollutants and contaminants, making it safe for human consumption and use.

Private Good

A type of good that is both excludable and rival in consumption, meaning its use is limited to paying customers and one person's use diminishes another person's ability to use it.

Automobile

A wheeled motor vehicle used for transportation, typically powered by an internal combustion engine or electric motor.

Private Good

A type of good that is characterized by excludability and rivalry, meaning it can be consumed by only one person at a time.