Finished Goods and Cost of Goods Sold Before the completed production for june is recorded, the work in process inventory account for James Company appears as follows: Work in Process Inventory Balance June 1 Direct material Direct labor $20,000 45,000 32,000 Manufacturing overhead applied 34,000 Assume that completed production for June includes Jobs 107, 108, and 109 with total costs of $28,000, $55,000, and $25,000, respectively. a. Determine the cost of unfinished jobs at June 30 and prepare a journal entry to record completed production. Work in process balance as of June 30: $ General Journal Description Description + + b. Using general journal entries, record the sale of Job 107 for $40,000 on account. General Journal To transfer cost to expense. To record sale of job 107. + Debit + Credit Debit Credit

Finished Goods and cost of Goods sold Before the completed production for june is recorded. the work in process inventory account for james Company appears as follows: Assume that completed production for June indudes jobs 107,108 , and 109 with total costs of $28,000,555,000, and $25,000, respectively. a. Determine the cost of unfinished jobs at june 30 and prepare a journal entry to record completed production. Work in process balance as of june 30:5 b. Using generat journal entries record the sale of job 107 for $40,000 on account