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Question 3 Bridgeport uses job costing in a manufacturing setting. The firm began the month with $123 of work-in-process and completed jobs for which cost
Question 3 Bridgeport uses job costing in a manufacturing setting. The firm began the month with $123 of work-in-process and completed jobs for which cost of goods sold was $1,254. A summary of this month's transactions follows. Direct materials requisitioned Direct labour Actual overhead Allocated overhead $169 226 915 934 Prepare journal entries for costs added to WIP this month. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry Required" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit (To record direct materials) (To record direct labour) (To record overhead) LINK TO TEXT LINK TO TEXT Determine the amount of overapplied or underapplied overhead. Overheads Prepare the journal entry to close it to cost of goods sold. (Credit account titles are automatically indented whe Entry Required" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit LINK TO TEXT LINK TO TEXT What is the value of ending work in process? Ending work in process LINK TO TEXT LINK TO TEXT
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