EX 19-12 Entry for jobs completed; cost of unfinished jobs The following account

Question

EX 19-12 Entry for jobs completed; cost of unfinished jobs The following account appears in the ledger prior to recognizing the jobs completed in August: Balance, August 1 Direct materials Direct labor Factory overhead Work in Process 60,000 325,000 462,000 210,000 Jobs finished during August are summarized as follows: Job 210 $197,800 Job 224 Job 216 160,000 364,000 240,000 Job 230 a. Journalize the entry to record the jobs completed. b. Determine the cost of the unfinished jobs at August 31. sandiohs completed OBJ. 2

Explanation / Answer

a.

Working:

b.

Working:

Date Account Title Debit Credit August.31 Finished goods 961800 Work-in-process 961800

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