Question: Completing and selling products Kennedy Company completed jobs that cost
Completing and selling products Kennedy Company completed jobs that cost $ 45,000 to produce. In the same period, the company sold jobs for $ 85,000 that cost $ 40,000 to produce. Prepare the journal entries for the completion and sales of the jobs.
Relevant QuestionsRobertson Company’s Manufacturing Overhead account is given below. Use this information to prepare the journal entry to adjust for overallocated or underallocatedoverhead.Sloan Trailers’ job cost records yielded the following information:Use the dates in the table to identify the status of each job. Compute the following balances for Sloan: a. Work-in-Process Inventory at September 30 b. ...Journalize the following transactions for Judy’s Sofas: a. Incurred and paid website expenses, $ 2,900. b. Incurred manufacturing wages of $ 15,000, 60% of which was direct labor and 40% of which was indirect labor. c. ...Howie Stars produces stars for elementary teachers to reward their students. Howie Stars’ trial balance on June 1 follows:June 1 balances in the subsidiary ledgers were as follows: • Raw Materials Inventory subsidiary ...Analyze the following T-accounts to determine the amount of direct and indirect materialsused.
Post your question