Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In March, Vaughn Company completes its only two jobs in process, Jobs 10 and 11. Job 10 cost $26,300 and Job 11 $36,800. On March

In March, Vaughn Company completes its only two jobs in process, Jobs 10 and 11. Job 10 cost $26,300 and Job 11 $36,800. On March 31, Job 10 is sold. Record the completion of the two jobs and the sale of Job 10.

Manufacturing Costs Work in Process Inventory Finished Goods Inventory Cost of Goods Sold
Raw Materials Inventory Factory Labor Manufacturing Overhead

Balance

$enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount

Completion of Jobs:

Job 10

enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount

Job 11

enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount

Balance

$enter a total of the three previous amounts $enter a total of the three previous amounts $enter a total of the three previous amounts $enter a total of the three previous amounts $enter a total of the three previous amounts $enter a total of the three previous amounts

Job sold:

Job 10

enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount

Balance

$enter a total of the two previous amounts $enter a total of the two previous amounts $enter a total of the two previous amounts $enter a total of the two previous amounts $enter a total of the two previous amounts $enter a total of the two previous amounts

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

Fundamental Financial Accounting Concepts

Authors: Thomas P. Edmonds

11th Edition

1260786587, 9781260786583

More Books

Students also viewed these Accounting questions