Question
Entry for Jobs Completed; Cost of Unfinished Jobs The following account appears in the ledger prior to recognizing the jobs completed in January: Work in
Entry for Jobs Completed; Cost of Unfinished Jobs
The following account appears in the ledger prior to recognizing the jobs completed in January:
| Work in Process | ||
| Balance, January 1 | $17,640 | |
| Direct materials | 143,410 | |
| Direct labor | 154,700 | |
| Factory overhead | 81,320 | |
Jobs finished during January are summarized as follows:
| Job 210 | $71,470 | Job 224 | $83,380 | |
| Job 216 | 43,680 | Job 230 | 146,920 |
a. Journalize the entry to record the jobs completed. If an amount box does not require an entry, leave it blank.
| fill in the blank ] | fill in the blank | ||
| fill in the blank | fill in the blank |
b. Determine the cost of the unfinished jobs at January 31. $fill in the blank
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Managerial Accounting A Focus on Ethical Decision Making
Authors: Steve Jackson, Roby Sawyers, Greg Jenkins
5th edition
978-0324663853
