Question: #8 help 8. value: 192 points Exercise 15-17 Manufacturing cost flows LO P1, P2, P3 Custom Cabinetry has one job in process (Job 120) as
8. value: 192 points Exercise 15-17 Manufacturing cost flows LO P1, P2, P3 Custom Cabinetry has one job in process (Job 120) as of June 30, at that time, its job cost sheet reports direct materials of $6,000, direct labor of $2,800, and applied overhead of $2,240 Custom Cabinetry applies overhead at the rate of $22,000, Job 121 is started and completed, and Job 122 is started and still in process at the end of the month. Custom Cabinetry incurs the following costs during July 80% of direct labor cost Dunng July, Job 120 is sold (on account) for July Product Costs Direct materials Fotal $1,000 $6,000 $2,500 $9,500 2,200 3,700 2,100 8,000 Job 120 Job 121 Job 122 Direct labor Overhead applied 1. Prepare journal entries for the following in July a. Direct materials used in production b. Direct labor used in production c. Overhead applied d. The sale of Job 120 e. Cost of goods sold for Job 120
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