Question

Leen Production Co. uses the job order cost system of accounting. The following information was taken from the company’s books after all posting had been completed at the end of May:
a. Compute the total production cost of each job.
b. Prepare the journal entry to transfer the cost of jobs completed to Finished Goods.
c. Compute the selling price per unit for each job, assuming a mark-on percentage of 40%.
d. Prepare the journal entries to record the sale of Job 1065.


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  • CreatedMarch 31, 2015
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