The gross earnings of the factory workers for Larkin Company during the month of January...
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Accounting
The gross earnings of the factory workers for Larkin Company during the month of January are $72,000. The employers payroll taxes for the factory payroll are $7,600. The fringe benefits to be paid by the employer on this payroll are $5,400. Of the total accumulated cost of factory labor, 83% is related to direct labor and 17% is attributable to indirect labor.
(a)
Prepare the entry to record the factory labor costs for the month of January.
(b)
Prepare the entry to assign factory labor to production.
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