Score: 1.6 of 10 pts E17-22 (similar to) 14 of 15 (14 complete) - June production generated the following activity in Chopper Chassis Company's Work-in-Process Inventory account (Click the icon to view the activity.) Additionally, Chopper has completed Jobs 142 and 143, with total costs of $50,000 and $48,000, respectively. Read the requirements Requirement 1. Prepare the journal entry for production completed in June. (Prepare a single journal entry for this event. Date June Accounts Debit Credit Finished Goods Inventory 98,000 Work-in-Process Inventory 98,000 Requirements 1. Prepare the journal entry for production completed in June. HW Score: 8 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 $55,000. Also, prepare the journal entry to record Cost of Goods Sold for Job 143 4. What is the gross profit on Job 143? Print Done 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 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 Data Table June 1 balance Direct materials used $ 28,000 38,000 Direct labor assigned to jobs 34,000 Manufacturing overhead allocated to jobs 23,800 Choose from any list or enter any number in the input fields and then click Check Answer. parts Print Done Clear All