June 1 balance	$36,000
Direct materials used	43,000
Direct labor assigned to jobs	32,000
Manufacturing overhead allocated to jobs	22,400

.	Prepare the journal entry for production completed in June.
2.	Open a T-account for Work-in-Process Inventory. Post the journal entry made in Requirement 1. Compute the ending balance in the Work-in-Process Inventory account on June 30.
3.	Prepare the journal entry to record the sale on account of Job 143 for $63,000. Also, prepare the journal entry to record Cost of Goods Sold for Job 143.
4.	What is the gross profit on Job 143?

Requirement 1. Prepare the journal entry for production completed in

June.

(Prepare a single journal entry for this event. Record debits first, then credits. Select the explanation on the last line of the journal entry table.)

Date			Accounts and Explanation	Debit	Credit
June			Finished Goods Inventory	98,000
			Work-in-Process Inventory		98,000
			Completed jobs, costs assigned to FG.

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

June

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

June

30.

(Abbreviation used: MOH = manufacturing overhead.)

Work-in-Process Inventory

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