Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It
Question:
Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during MarchJob P and Job Q. Job P was completed and sold by the end of the March and Job Q was incomplete at the end of the March. The company uses a plantwide predetermined overhead rate based on direct labor-hours. The following additional information is available for the company as a whole and for Jobs P and Q (all data and questions relate to the month of March):
Estimated total fixed manufacturing overhead
$
13,200
Estimated variable manufacturing overhead per direct labor-hour
$
1.20
Estimated total direct labor-hours to be worked
3,300
Total actual manufacturing overhead costs incurred
$
17,000
Job P
Job Q
Direct materials
$
17,500
$
9,300
Direct labor cost
$
43,200
$
11,700
Actual direct labor-hours worked
2,400
650
Prepare a journal entry to transfer costs from Work in Process to Finished Goods