June production generated the following activity in barge chassis company`s work-in-process inventory account. Prepare the journal entry for production completed in June.

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

Date			Accounts	Debit	Credit
June

Data table:

JUNE 1 BALANCE 25,000

DIRECT MATERIALS USED 28,000

DIRECT LABOR ASSIGNED TO JOBS 36,000

MANFACTURING OVERHEAD ALLOCATED TO JOBS 18,000

Requirements:

Prepare the journal entry for production completed in June.

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.

Prepare the journal entry to record the sale on account of Job 143 for

$64,000. Also, prepare the journal entry to record Cost of Goods Sold for Job 143.

What is the gross profit on Job 143?

Homework: Homework Week 5 - chapters 17, 18, 19 Save core: 0 of 6 pts 2 of 6 (0 complete) HW Score: 0%, 0 of 30 pts 2 Question Help 17-22 (similar to) une production generated the following activity in Barge Chassis Company's Work-in-Process Inventory account: (Click the icon to view the activity.) additionally, Barge has completed Jobs 142 and 143, with total costs of $35,000 and $50,000, respectively. Read the requirements. Requirement 1. Prepare the journal entry for production completed in June. (Prepare a single journal entry for this event. Record debits first, then credits. Exclude explanations com any journal entries.) Date Accounts Debit Credit June Finished Goods Inventory Work-in-Process Inventory Accounts Receivable Cost of Goods Sold