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    renataangel's Avatar
    renataangel Posts: 1, Reputation: 1
    New Member
     
    #1

    Aug 5, 2010, 10:18 AM
    How do I journalize
    Applied 3,521 of direct materials(Direct Materials Requisition No. 238) and 8220.00 of direct labor (time ticket no. 129) to job no. 351, which will complete the job. The FICA rate is 7.65% of gross pay, and the employees' income tax rate is 18% of gorss pay. When preparing the entry for applying direct labor, debit work in progress fro the gross pay and credit employees' income tax payable and FICA tax payable for the appropriate amounts and salaries payable for net pay. Remember that employees' are paid on the last day of the month. Applied factory overhead is base upon 120% of direct labor cost transferred the completed job to the Finished Goods account.
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    Aug 5, 2010, 08:07 PM

    Please see the guidelines about posting homework:
    https://www.askmehelpdesk.com/financ...-b-u-font.html

    Most of this is fairly straight-forward as it gives you all the amounts and percentages you need and even tells you what to do with the entry. Have you even attempted it?

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