Mathematics · Cost Accounting - Control Accounts
A business recorded the following wages costs for a direct production worker for November: Basic Pay = $70,800, Overtime premium = $2,000, Holiday pay = $500, Gross wages incurred = $73,300. The overtime was not worked for any specific job. What are the correct ledger accounting entries for these wages costs?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Debit Work-in-progress account $72,600, Debit Overhead control account $2,500; Credit Wages control account $73,300
- 2Debit Work-in-progress account $72,800, Debit Overhead control account $2,500; Credit Wages control account $74,300
- 3Debit Work-in-progress account $72,800, Debit Overhead control account $3,500; Credit Wages control account $73,300
- 4Debit Work-in-progress account $72,800, Debit Overhead control account $2,500; Credit Wages control account $73,300✓
Correct answer
Debit Work-in-progress account $72,800, Debit Overhead control account $2,500; Credit Wages control account $73,300
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