Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The month's production generated the following activity in Car Bot's Work-In-Process Inventory account: June 1 balance Direct materials used Direct labor assigned to the

image text in transcribed

The month's production generated the following activity in Car Bot's Work-In-Process Inventory account: June 1 balance Direct materials used Direct labor assigned to the jobs 38,000 43,000 42,000 Manufacturing overhead allocated to the 29,400 Additionaly, Car Bot has completed Jobs 142 ans 143, with total costs of $46,000 and $5,000 respectively. Do 1 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 1. Compute the ending balance of the account on June 30. 3 Prepare the journal entry to record the sale on account of Job 143 for $47,000. 4 What was the gross profit on Job 143? Work-In-Process

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting Tools for Business Decision Making

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

7th edition

978-1118334331, 1118334337, 978-1119036449, 1119036445, 978-1119036432

More Books

Students also viewed these Accounting questions