Custom Cabinets Inc.manufactures goods on a job order basis.During the month of November,three jobs were started.(There was no work in process at the beginning of the month. )Jobs 401 and 402 were completed and sold for $14,500 and $19,000,respectively,during the month;Job 403 was still in process at the end of November.
The following data are taken from the job cost sheets for each job.Factory overhead charges include a total of $900 of indirect materials and $600 of indirect labor.One work in process control account is used. Prepare a journal entry to record each of the following:
a.Materials used
b.Factory wages and salaries earned
c.Factory Overhead transferred to Work in Process
d.Jobs completed
e.Jobs sold

Question

Custom Cabinets Inc.manufactures goods on a job order basis.During the month of November,three jobs were started.(There was no work in process at the beginning of the month. )Jobs 401 and 402 were completed and sold for $14,500 and $19,000,respectively,during the month;Job 403 was still in process at the end of November.
The following data are taken from the job cost sheets for each job.Factory overhead charges include a total of $900 of indirect materials and $600 of indirect labor.One work in process control account is used.  Prepare a journal entry to record each of the following: 
a.Materials used
b.Factory wages and salaries earned
c.Factory Overhead transferred to Work in Process
d.Jobs completed
e.Jobs sold

Quizplus · Accepted Answer

The Answer of Custom Cabinets Inc.manufactures goods on a job order basis.During the month of November,three jobs were started.(There was no work in process at the beginning of the month. )Jobs 401 and 402 were completed and sold for $14,500 and $19,000,respectively,during the month;Job 403 was still in process at the end of November.
The following data are taken from the job cost sheets for each job.Factory overhead charges include a total of $900 of indirect materials and $600 of indirect labor.One work in process control account is used.  Prepare a journal entry to record each of the following: 
a.Materials used
b.Factory wages and salaries earned
c.Factory Overhead transferred to Work in Process
d.Jobs completed
e.Jobs sold