Estimate the amounts of factory labor costs transferred to

Question

A summary of the time tickets for the current month follows:

Jobno.                        Amount                      Job no.                       Amount

101                             1,620                          141                             1,780

122                             1,590                          Indirectlabor             13,400

133                             760                             143                             3,330

139                             5,210                          147                             1,080

1. Determine the amounts of factory labor costs transferred to Work in Process and Factory Overhead for the current month.
2. Illustrate the effects on the accounts and financial statements of the factory labor costs transferred in(a)