Before the completed production for June is recorded, the work in process inventory account for James Company appears as follows Assume that completed production for June includes Jobs 107, 108, and 109 with total costs of $28,000, $59,000, and $25,000, respectively a Determine the cost of unfinish...

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Before the completed production for June is recorded, the work in process inventory account for James Company

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Before the completed production for June is recorded, the work in process inventory account for James Company appears as follows:

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Assume that completed production for June includes Jobs 107, 108, and 109 with total costs of $28,000, $59,000, and $25,000, respectively.

a. Determine the cost of unfinished jobs at June 30 and prepare a journal entry to record completed production.

b. Using general journal entries, record the sale of Job 107 for $40,000 on account.

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Managerial Accounting For Undergraduates

ISBN: 9781618531124

1st Edition

Authors: Christensen, Theodore E. Hobson, L. Scott Wallace, James S.

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Question Posted: May 16, 2024 05:00 AM

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Before the completed production for June is recorded, the work in process inventory account for James Company

Question:

Balance June 1. Direct material Direct labor... Work in Process Inventory Manufacturing overhead applied. 16,000 45,000 32.000 34,000

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Managerial Accounting For Undergraduates

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