Job cost sheets for incomplete jobs in Work in Process on February 1 showed the following: Job #36 Job #37 Direct materials $ 480 $ 390 Direct labour 560 340 Manufacturing overhead 840 510 Total $1,880 $1,240 There was one completed job in Finished Goods on Feb. 1, Job #35 for $5,430. Prepare the journal entries for the following transactions: (Hint: Use job cost sheets to track costs of jobs.)


f. Job #36 and #37 were completed and transferred out of production during the month. (Hint: Use job cost sheets to calculate the total cost of the jobs. Remember to include BWIP and MOH allocated.)

i. What is the ending balance in Work in Process at the end of the month? (Hint: There are two ways you could find this. One way is to post all the transactions to a WIP t-account. The other (easier) way is to add up the job cost sheet for the incomplete job.)

Answer rating: 100% (QA)

To prepare the journal entries for the given transactions we need to consider the following f Job 36 ... View the full answer