Job cost; journal entries; inventory analysis; manufacturing statement LO_4,5 High-P Manufacturing Co. manufactures engines that are made only on customers' orders and to their specifications. During January, the company worked on Jobs 90AX, 90BZ, 90CK, and 90DQ. The following figures summarize the cost records for the month:

Jobs 90AX and 90BZ have been completed and delivered to the customer at a total selling price of $426,000, on account. Job 90CK is finished but has not yet been delivered. Job 90DQ is still in process.There was no work in process at the beginning of the month.
Required:
1.Prepare the summary journal entries for the month to record the distribution of materials, labor, and overhead costs. (Assume that a work in process account is kept for each job.)
2. Prepare a summary showing the total cost of each job completed during the month or in process at the end of the month. Also, determine the cost of the inventories of completed engines and engines in process at the end of the month.
3. Prepare the journal entries to record the completion of the jobs and the sale of the jobs.
4. Prepare a statement of cost of goods manufactured.

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Job 90AX Job 90BZ Job 90CK Job 90DQ (100 units) (60 units) (25 units) (100 units) Direct materials put into process: Jan. 2... 18... 22 28 Direct labor cost: Week ending $15,000 20,000 15,000 $ 5,000 16,000 1,000 $ 5,000 10,000 3,500 $ 6,000 2,000 Jan. 2. 9 16 23 30 $ 1.000 27.000 $ 1,000 9,000 32,000 27.000 20.000 3,000 $ 5,000 Factory overhead $60,000 $32,000 18,000 $17,500 Engines completed 100 60 25 | | $ 500 11.500 $10,500