Question: Please help me complete the journal entries and Work in Process Inventory for this problem. Thank you. Custom Cabinetry has one job in prooess {Job
Please help me complete the journal entries and Work in Process Inventory for this problem. Thank you.


Custom Cabinetry has one job in prooess {Job 120] as ofJune 30; at that time, itsjob cost sheet reports direct materials of $6.600, direct labor of $3,000. and applied overhead of $2,700. Custom Cabinetry applies overhead at the rate of 90% of direct labor cost. During July. Job 120 is sold [on account] for $24,500. Job 121 is started and completed. and Job 122 is started and still in process at the end ofthe month. Custom Cabinetry incurs the following costs during July. Chill? Product: Coats Job 120 Job 121 Job 122 Total Direct. materials $2,901]! $3,500 $2,?00 $14,100 Direct labor 3,70!) 5,200 3,300 12,700- Overhead applied '2 'P ? '2 1. Preparejournal entries for the following in July. 3. Direct materials used in production. b. Direct labor used in production. c. Overhead applied. d. The sale of Job 120. 1:. Cost of goods sold for Job 120. 2. Compute the July 31 balances of the Work in Process Inventory and the Finished Goods Inventory accounts. [Assume there are no jobs in Finished Goods Inventory as ot'June 30.) Work in Process Finished Goods Job # Direct materials Direct labor Overhead Total cost 0 $ 0
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