Entry for Factory Labor Costs The weekly time tickets indicate the following distribution of labor hours for three direc

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Entry for Factory Labor Costs
The weekly time tickets indicate the followingdistribution of labor hours for three direct labor employees:
The direct labor rate earned per hour by the three employees isas follows:
The process improvement category includes training, qualityimprovement, housekeeping, and other indirect tasks. (Note: Ignoreany overtime issues, if applicable.)
Question Content Area
a. Journalize the entry to record thefactory labor costs for the week. If an amount box does not requirean entry, leave it blank.
Accounts PayableAccounts ReceivableCashFinished GoodsWagesPayableWork in Process
Accounts PayableAccounts ReceivableCashFactory OverheadFinishedGoodsWages Payable
Accounts PayableAccounts ReceivableFactory OverheadFinishedGoodsWages PayableWork in Process
Question Content Area
b. Assume that Jobs 301 and 302 werecompleted but not sold during the week and that Job 303 remainedincomplete at the end of the week. How would the direct labor costsfor all three jobs be reflected on the financial statements at theend of the week?
The direct labor costs for the completed jobs would become partof the
finished goods inventorywork in process inventorycost of goodssold
. The direct labor costs for Job 303 would be remain part ofthe
finished goods inventorywork in process inventorycost of goodssold
.