BusinessCourse Return to course Finished Goods and Cost of Goods Sold Before the completed production for August is recorded, the work in process inventory account for Bayfield Company appears as follows: Work in Process Inventory Balance August 1 $17,000 Direct material 33,000 Direct labor 20,000 Manufacturing overhead applied 20,000 Assume that completed production for August includes Jobs 317, 318, and 319 with total costs of $31,000, $18,000, and $29,000, respectively. a. Determine the cost of unfinished jobs at August 31 and prepare a journal entry to record completed production. Work in process balance as of August 31: $ 0 General Journal Description Debit Credit 0 b. Using general journal entries, record the sale of Job 317 for $45,000 on account. General Journal Description Debit Credit To transfer cost to expense. To record sale of job 317. Check Type here to search