19-22

June production generated the following activity in Car Chassis Companys Work-In-Process Inventory account:

June 1 balance	$38, 000
Direct materials used	43, 000
Direct labor assigned to jobs	42, 000
Manufacturing overhead allocated to jobs	29, 400

Additionally, Car Chassis has completed Jobs 142 and 143, with total costs of $46, 000 and

$35, 000, respectively.

Date		Accounts and Explanation						Debit	Credit

Prepare the journal entry for production completed in June.

Open a T-account for Work-In-Process Inventory. Post the journal entry made above (1.) Compute the ending balance in the Work-In-Process Inventory account on June 30.

Prepare the journal entry to record the sale on account of Job 143 for $47, 000. Also, prepare the journal entry to record Cost of Goods Sold for Job 143.

**What is the gross profit on Job 143?