Ask Question
7 March, 20:02

During January, its first month of operations, Marigold Company accumulated the following manufacturing costs: raw materials $5,100 on account, factory labor $7,500 of which $5,800 relates to factory wages payable and $1,700 relates to payroll taxes payable, and factory utilities payable $2,900.

+2
Answers (1)
  1. 7 March, 20:32
    0
    The journal entries are as follows

    1. Raw material inventory $5,100

    To Account payable $5,100

    (Being the raw material is purchased on account)

    2. Factory labor $5,100

    To Factory wages payable $1,700

    To Payroll tax payable $2,900

    (Being the factory overhead cost is recorded)

    3. Manufacturing overhead $2,900

    To Utilities payable $2,900

    (Being the overhead cost is recorded)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “During January, its first month of operations, Marigold Company accumulated the following manufacturing costs: raw materials $5,100 on ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers