Fuente's Sheet Metal Works manufactures custom sheet metal products ranging from cabinets and storage containers to portable
Question:
Materials ..................................................... $ 50,000
Labor (1,200 hours x $15 per hour) ....................... 18,000
Factory overhead ($30 per labor hour) ................... 36,000
Total cost charged to Job 308 .............................. $104,000
Required:
Determine the cost to be transferred to Spoiled Goods Inventory and the cost of the job shipped to the customer, and prepare the general journal entry to record both.
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