King Tool is a machine shop that uses job order costing. Overhead is applied to individual jobs
Question:
Prepare general journal entries to:
a. Summarize the manufacturing costs charged to job no. 321. (Use one compound entry.)
b. Record the completion of job no. 321.
c. Record the credit sale of 4,000 units from job no. 321 at a unit sales price of $10. Record in a separate entry the related cost of goods sold.
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Related Book For
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078025778
17th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
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