King Tool is a machine shop that uses job order costing. Overhead is applied to individual jobs at a predetermined rate based on direct labor costs. The job cost sheet for job no. 321 appears below.

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.

JOB COST SHEET JOB NUMBER: 321 PRODUCT: 2" Brass Check Valves UNITS COMPLETED: 5,000 DATE STARTED: May DATE COMPLETED: May 21 $8,000 2,600 Manufacturing overhead applied Total cost of job no. 321 Unit cost ($20,000+5,000 units) .$ 4