The following account appears in the ledger prior to recognizing the jobs completed in January: Work in ProcessBalance, January 1 $ 72,000Direct materials 390,000Direct labor 500,000Factory overhead 250,000 Jobs finished during January are summarized as follows:Job 210 $200,000 Job 224 $225,000Job 216 288,000 Job 230 436,800a. Journalize the entry to record the jobs completed.b. Determine the cost of the unfinished jobs at January 31.
The following account appears in the ledger prior to recognizing the jobs completed in January:
Work in Process
Balance, January 1 $ 72,000
Direct materials 390,000
Direct labor 500,000
Factory overhead 250,000
Jobs finished during January are summarized as follows:
Job 210 $200,000 Job 224 $225,000
Job 216 288,000 Job 230 436,800
a.
b. Determine the cost of the unfinished jobs at January 31.
Trending now
This is a popular solution!
Step by step
Solved in 4 steps with 3 images
