June 1 balance

$32,000

Direct materials used

30,000

Direct labor assigned to jobs

43,000

Manufacturing overhead allocated to jobs

25,800

JuneJune

production generated the following activity in

AxleAxle

Chassis Company's Work-in-Process Inventory account:

LOADING...

(Click

the icon to view the activity.)

Additionally,

AxleAxle

has completed Jobs 142 and 143, with total costs of

$ 46 comma 000$46,000

and

$ 48 comma 000$48,000,

respectively.

Read the

requirements

LOADING...

.

Requirement 1. Prepare the journal entry for production completed in

JuneJune.

(Prepare a single journal entry for this event. Record debitsfirst, then credits. Exclude explanations from any journal entries.)

Date			Accounts	Debit	Credit
June			Finished Goods Inventory	94,000
			Work-in-Process Inventory		94,000

Requirement 2. A T-account for Work-in-Process Inventory has been opened for you. Enter the beginning balance "Beg. Bal." on the first line of the T-account. Post the

JuneJune

activity, including the journal entry made in Requirement 1, using the appropriate descriptions as posting references. Compute the ending balance "Bal." in the Work-in-Process Inventory account on

JuneJune

3030.

(Abbreviation used: MOH = manufacturing overhead.)

Work-in-Process Inventory