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5 April, 17:52

Journalize the following transactions for Shelton, Inc (a) Incurred direct labor costs of $23,200 for 3,410 hours. The standard labor cost was $24,041. (b) Assigned 3,410 direct labor hours costing $23,200 to production. Standard hours were 3,580. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e. g. 125.) No. Account Titles and Explanation Debit Credit (a) (b)

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  1. 5 April, 18:46
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    Answer and Explanation:

    As per the data given in the question,

    The journal entries are shown below:

    a)

    Factory labor A/c Dr. $24,041

    To Labor rate variance Cr. $841 ($24,041 - $23,200)

    To Wages payable Cr. $23,200

    (Being factor payroll is recorded)

    b) Work in process inventory A/c Dr $25,240 (3,580 * $24,041 : 3,410)

    To Labor efficiency variance Cr. $1,199 ($25,240 - $24,041)

    To Factory labor $24,041

    (Being assigning of payroll to work in process inventory is recorded))
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