23. At the beginning of April, Dumas Company had no beginning raw materials or finished goods inventories.
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23. At the beginning of April, Dumas Company had no beginning raw materials or finished goods inventories. Beginning work-in-process inventory was $2,250, and consisted of one job—Job 5130. The firm worked on three jobs during April, purchasing all materials used during the period, and applying manufacturing overhead at a rate of 120% of direct labor costs (which are paid in cash):
At the end of April, Jobs 5130 and 2236 were completed, and Job 2236 was shipped to the customer. Overhead is closed at the end of the year.
Make all possible journal entries associated with the three jobs, and post them to t-accounts
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Related Book For 
Mastering Managerial Accounting Key Concepts Through Problem Sets
ISBN: 9781626611184
1st Edition
Authors: Christine Denison
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