Spokane Manufacturing Co. obtained the following information from its records for the month of July:

Required:
1. Prepare, in summary form, the journal entries that would have been made during the month to record the distribution of materials, labor, and overhead costs; the completion of the jobs; and the sale of the jobs.
2. Prepare schedules showing the gross profit or loss for July for the following:
a. The business as a whole.
b. Each job completed and sold.
c. Each unit manufactured and sold. (Round to the nearestcent.)

Transcribed Image Text:

Jobs Completed and Sold 320 s 25,000 15,000 S 29,000 70,000 60,000 55,000 50,000 40,000 63,000 230 560 Direct labor cost. 5.000 4,o00 Units manufactured Selling price . 10,000 14,000 152,000 120,000 175,250