June production generated the following activity in Bentley Chassis Company's Work-in-Process Inventory account: (Click the icon to view the activity.) Additionally, Bentley has completed Jobs 142 and 143, with total costs of $37,000 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. Record debits first, then credits. Exclude explanations from any journal entries.) Date Accounts Debit Credit June Finished Goods Inventory Data Table June 1 balance $ 36,000 Direct materials used 32,000 Direct labor assigned to jobs 40,000 Manufacturing overhead allocated to jobs 28,000
June production generated the following activity in Bentley Chassis Company's Work-in-Process Inventory account: (Click the icon to view the activity.) Additionally, Bentley has completed Jobs 142 and 143, with total costs of $37,000 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. Record debits first, then credits. Exclude explanations from any journal entries.) Date Accounts Debit Credit June Finished Goods Inventory Data Table June 1 balance $ 36,000 Direct materials used 32,000 Direct labor assigned to jobs 40,000 Manufacturing overhead allocated to jobs 28,000
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter2: Accounting For Materials
Section: Chapter Questions
Problem 10P
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Question 3, Part 1
![June production generated the following activity in Bentley Chassis Company's Work-in-Process Inventory account:
E (Click the icon to view the activity.)
Additionally, Bentley has completed Jobs 142 and 143, with total costs of $37,000 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. Record debits first, then credits. Exclude explanations from any journal entries.)
Date
Accounts
Debit
Credit
June
Finished Goods Inventory
Data Table
June 1 balance
$
36,000
Direct materials used
32,000
Direct labor assigned to jobs
40,000
Manufacturing overhead allocated to jobs
28,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F603d35a3-3fd0-4545-9874-8f7a9ef67273%2F4cb70f5b-7635-43d8-a9a0-ae9d30d91126%2F5aaf7p_processed.png&w=3840&q=75)
Transcribed Image Text:June production generated the following activity in Bentley Chassis Company's Work-in-Process Inventory account:
E (Click the icon to view the activity.)
Additionally, Bentley has completed Jobs 142 and 143, with total costs of $37,000 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. Record debits first, then credits. Exclude explanations from any journal entries.)
Date
Accounts
Debit
Credit
June
Finished Goods Inventory
Data Table
June 1 balance
$
36,000
Direct materials used
32,000
Direct labor assigned to jobs
40,000
Manufacturing overhead allocated to jobs
28,000
![Finished Goods Inventory
Accounts Receivable
Cash
Cost of Goods Sold
Finished Goods Inventory
Manufacturing Overhead
Raw Materials Inventory
Sales Revenue
Wages Payable
Work-in-Process Inventory](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F603d35a3-3fd0-4545-9874-8f7a9ef67273%2F4cb70f5b-7635-43d8-a9a0-ae9d30d91126%2F77esoan_processed.png&w=3840&q=75)
Transcribed Image Text:Finished Goods Inventory
Accounts Receivable
Cash
Cost of Goods Sold
Finished Goods Inventory
Manufacturing Overhead
Raw Materials Inventory
Sales Revenue
Wages Payable
Work-in-Process Inventory
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