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Aquazona Pool Company is a custom pool builder. The company recently completed a pool for the Drayna family (Job 1324) as summarized on the
Aquazona Pool Company is a custom pool builder. The company recently completed a pool for the Drayna family (Job 1324) as summarized on the incomplete job cost sheet below. Assume the company bids its pools at total manufacturing cost plus an additional 34 percent. Job Number: 1324 Date Started: July 8 Date Completed: September 9 Description: Drayna Pool Direct Materials Requisition Job Cost Sheet Direct Labor Applied Manufacturing Overhead Number Amount Ticket Hours MR 3345 $1,440 TT 335 MR 3372 1,020 TT 340 32 Amount 37 $ 765.90 662.40 Hours Rate Amount MR 4251 1,230 TT 385 38 786.60 MR 4263 1,760 TT 385 30 621.00 MR 5236 1,970 TT 445 32 662.40 $ $ 7,420 169 3,498.30 Cost Summary Direct Labor Cost 7,420.00 3,498.30 7 Direct Materials Cost Applied Manufacturing Overhead Total Cost The company applies overhead to jobs at a rate of $10.35 per direct labor hour. Required: Prepare journal entries to record cost of goods sold and sales revenue for Job 1324. Assume the total cost of Job 1324 is currently in the Finished Goods Inventory Account and that the Draynas paid for the pool with cash. Note: Do not round your intermediate calculations. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to 2 decimal places. 6 View transaction list 15 points Journal entry worksheet 1 2 Asx eBook Record the cost of goods sold. Print References Note: Enter debits before credits Transaction General Journal Debit Credit a Record entry Clear entry View general journal eBook Ask Print View transaction list References Journal entry worksheet 2 Record the sale of Job 1324 for cash. Note: Enter debits before credits. Transaction b General Journal Debil Credit Record entry Clear entry View general journal
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