Ciarra's Custom Coats uses a Job Order Costing System. Record the appropriate journal entries for the...

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Ciarra's Custom Coats uses a Job Order Costing System. Record the appropriate journal entries for the following job: 7-1: Hailey Bieber ordered a custom coat. 7-2: 20 yards of wool recquesitioned from the warehouse. The wool cost $200 per yard. 7-2/7-10: The Factory works on the Coat. Direct Labor charged 30 hours at $100 per hour. Manufacturing Overhead is allocated based on direct labor hours. The predetermined overhead rate is $50 per direct labor hour. 7-11: The coat is finished and moved to the showroom. 7-12: The coat is delivered to Hailey Baldwin and she is billed $10,000. Ciarra's Custom Coats uses a Job Order Costing System. Record the appropriate journal entries for the following job: 7-1: Hailey Bieber ordered a custom coat. 7-2: 20 yards of wool recquesitioned from the warehouse. The wool cost $200 per yard. 7-2/7-10: The Factory works on the Coat. Direct Labor charged 30 hours at $100 per hour. Manufacturing Overhead is allocated based on direct labor hours. The predetermined overhead rate is $50 per direct labor hour. 7-11: The coat is finished and moved to the showroom. 7-12: The coat is delivered to Hailey Baldwin and she is billed $10,000.

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July 1st Job Order Creation Debit Work in Process Inventory WIP Ac Placeholder for th... View the full answer