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HELP Your company is Bantry Company At the beginning of this reporting period your comapony has the following balances. The company starts 3 jobs into
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Your company is Bantry Company At the beginning of this reporting period your comapony has the following balances. The company starts 3 jobs into production at the start of the accounting period: Job 101, Job 102 and, Job 103 Overhead is applied at 150% of Labor Cost Job 101 is started, and is not yet complete as of the end of the accounting period. Cost incurred to date for Job 101. A) Record journal entries for all events involving Job 101. Job 102 is started, and is completed but not sold as of the end of the accounting period. Cost incurred to date for Job 102. Materials $2,850.00 Labor 85 hours at 20.49 per hour B) Record journal entries for all events involving Job 102. Job 103 is started, completed and sold to the customer at 150% of total cost. Cost incurred to date for Job 103. Materials $2,100.00 Labor 63 hours at 20.49 per hour C) Record journal entries for all events involving Job 103. D) What is the balance of the Inventory account? E) What is the balance of the Manufacturing Overhead account? F) What is the balance of the Work in Process account? G) What is the balance of the Finished Goods Inventory account. H) What is the gross profit of Job 103Step by Step Solution
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