Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

i need help with requirement 4, Requirement 4. Record the sale of Job 3 for $2,200 on account. (Record debits first, then credits. Exclude explanations

i need help with requirement 4, image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Requirement 4. Record the sale of Job 3 for $2,200 on account. (Record debits first, then credits. Exclude explanations from any journal entries.) First, record the revenue related to the sale of job 3 on account. Date Accounts Debit Credit Accounts Receivable 2,200 Sales Revenue 2,200 Cost of Goods Sold Finished Goods Inventory Choose from any list of enter any number in the SUUS Ouestion Help % P19-28A (similar to) Stration Manufacturing makes carrying cases for portable electronic devices. Ils costing records yield the following information Click the icon to view the costing records) Read the requirements Requirement 1. Which type of conting system is Stratton using? What piece of data did you bato your answer on? Stratton uses a border costing wystem. We know this beca. Stratton's costing records show costs being accumulated for each job. Requirement 2. Use the dates in the table to identify the status of each job at November 30 and December 31. Compute Stratton's account balances at November 30 for Work in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold. Compute, by job, account balances at December 31 for Work in Process Inventory, Finished Goods ventory, and cost of Goods Sold. (If a box is not used in the schedule, leave the box omply do not select a label or enter a zero) Prepare the November schedule first, followed by the December schedule Stratton Manufacturing Computation of Work-in-Process Inventory Finished Goods Inventory, and Cost of Goods Sold For November and December Choose from any list or enter any number in the input fields and then click Check Answer Stratton Manufacturing makes carrying cases for portable electronic devices, Its costing records yield the following information: B! (Click the icon to view the costing records.) Read the requirements. Job Cost Job Cost Job Cost November 30: 3 $ 300 2 $ 1,100 1 $ 1,300 4 1,200 $ 1,500 $ 1,100 $ Total 1,300 Total Total December 31: 6 1,000 4 $ 2,600 2 $ 1.100 3 1,000 300 5 1,000 Total Total 2,600 $ 2,400 Total Requirement 3. Prepare journal entries to record the transfer of completed jobs from Work-in-Process Inventory to Finished Goods Inventory Choose from any list or enter any number in the input fields and then click Check Answer. 2 parts remaining Clear All Type here to search o BI E DLL Read the tourements Requirement 3. Prepare journal entries to record the rate of completed jobs from Work in Process Inventory to Finished Goods Inventory for November and December (Record debits first, then credits. Exclude explanations from any ouma entre) Credit Record November's entry test Date Accounts Nov. 30 Fished Goods inventory Work in Process inventory Debit 2.400 2.400 Now second December's Choose from any ist or enter any number in the input fields and then click Check Answer 12 ans tonning Coor Final Check Type here to search O BI - 553 PM 7/22/2020 DELL 7 Q E R T Y S D F G H X C

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Conducting An Institutional Diversity Audit In Higher Education A Practitioners Guide To Systematic Diversity Transformation

Authors: Edna Chun, Alvin Evans, Benjamin D. Reese

1st Edition

1620368196, 978-1620368190

More Books

Students also viewed these Accounting questions

Question

=+c. Construct density histograms for max5, mean5, and recent5.

Answered: 1 week ago