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Custom Cabinetry has one job in process ( Job 1 2 0 ) as of June 3 0 ; at that time, its job cost
Custom Cabinetry has one job in process Job as of June ; at that time, its job cost sheet reports direct materials of $ direct labor of $ and applied overhead of $ Custom Cabinetry applies overhead at the rate of of direct labor cost. During July, Job is sold on account for $ Job is started and completed, and Job is started and still in process at the end of the month. Custom Cabinetry incurs the following costs during July.
July Product Costs Job Job Job Total
Direct materials $ $ $ $
Direct labor
Overhead applied
Prepare journal entries for the following in July.
Direct materials used in production.
Direct labor used in production.
Overhead applied.
The sale of Job
Cost of goods sold for Job
Compute the July balances of the Work in Process Inventory and the Finished Goods Inventory accounts. Assume there are no jobs in Finished Goods Inventory as of June
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