Question: 1. Journalize the entries to record the transactions indentified below. 2. Determine the account balances for Work in Process and Finished Goods. 3. Prepare

1. Journalize the entries to record the transactions indentified below. 2. Determine

1. Journalize the entries to record the transactions indentified below. 2. Determine the account balances for Work in Process and Finished Goods. 3. Prepare a schedule of unfinished jobs to support the balance in the Work in Process account. a. Materials purchased on account 60,000 Material Factory Factory Labor Overhead b. Job #100 5000 2500 Job #101 4000 2000 Job #102 3500 1750 Job #103 2500 1250 Job #104 1000 500 Job #105 1500 750 For general factory use 1800 900 C. Factory overhead costs incurred 10000 d. Depreciation of machinery Factory overhead applied as a percent of of direct 8000 e. labor cost 50% f. Jobs completed 100, 101, 102, and 104 Jobs 100, 101, 102 were shipped Customers were billed Job #100 12000 Job #101 13000 Job #102 14000

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