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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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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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