Chapter 1, Problem 11P

Spokane Production Co. obtained the following information from its records for July:

Required:

1. 1. Prepare, in summary form, the journal entries that would have been made during the month to record issuing materials to production, the distribution of labor, and overhead costs; the completion of the jobs; and the sale of the jobs.
2. 2. Prepare schedules computing the following for July:
   1. a. The gross profit or loss for each job completed and sold, and for the business as a whole.
   2. b. For each job, the gross profit or loss per unit. (Round to the nearest cent.)