Refer to the information in PA2-3 for Tyler Tooling Company.

Required:
1. Prepare a journal entry showing the transfer of Job 102 into finished Goods Inventory upon its completion.
2. Prepare the journal entries to recognize the sales revenue and cost of goods sold for Job 101.
3. Prepare the journal entry to transfer the balance of the manufacturing overhead account to Cost of Goods Sold.

Transcribed Image Text:

Job 101 Job 102 Job 103 Total S19200 $1440 $28,800 $11200 $43,200 $49,600 7,000 hours Direct materials used Direct labor Machine hours $9,600 $9,600 2,000 hours 1,000 hours 4,000 hours