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Do It! Review 15-04 During the current month, Vaughn Corporation completed Job 310 and Job 312. Job 310 cost $75,000 and Job 312 cost $51,500.
Do It! Review 15-04 During the current month, Vaughn Corporation completed Job 310 and Job 312. Job 310 cost $75,000 and Job 312 cost $51,500. Job 312 was sold on account for $90,000. Journalize the entries for the completion of the two jobs and the sale of Job 312. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (a) Finished Goods Inventory Work in Process Inventory (To record completion of Jobs 310 and 312) (b) Accounts Receivable Sales Revenue (To record sale of Job 312) (c) Cost of Goods Sold Finished Goods Inventory (To record cost of goods sold for Job 312) Brief Exercise 15A-08 In March, Waterway Company completes its only two jobs in process, Jobs 10 and 11. Job 10 cost $23,300 and Job 11 $33,400. On March 31, Job 10 is sold. Record the completion of the two jobs and the sale of Job 10. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Manufacturing Costs Raw Materials Inventory Factory Labor Manufacturing Overhead Work in Process Inventory Finished Goods Inventory Cost of Goods Sold $ Balance Completion of Jobs: Job 10 Job 11 Balance Job sold: Job 10 Balance Click if you would like to Show Work for this question: Open Show Work
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