16 Mar Factory Ledger Entries. The Henderson Company uses
Factory Ledger Entries. The Henderson Company uses a general ledger and a factory ledger. The following transactions took place: Nov. 2. Purchased raw materials for the factory, $20,000. Terms 1 /1O, n/60. 4. Requisitions of $4,000 of direct materials and $2,000 of indirect materials were filled from the stockroom. 8. Factory payroll of $2,000 for the week was made up at the home office; $1,730 in cash was sent to the factory. FICA tax was $90, and income tax was $180 ($1,880 direct labor; $120 factory repair). 14. Depreciation of $200 for factory equipment was recorded. (Assets and accumulated depreciation accounts are kept on the general office books.) 14. A job was completed in the factory with $960 direct labor and $450 of materials being previously charged to the job. Factory overhead is to be applied at an overhead rate of 66%% of direct labor. Nov. 15. Miscellaneous factory overhead amounting to $800 was paid by the home office and transferred to the factory. 16. The job completed on the 14th was shipped to Sully Marx on instructions from the home office. Customer was billed for $2,300. Required: Journal entries on the factory books and the general office books.
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