Job order cost system
Continental Company uses a job order cost accounting system.During March,three jobs were completed and the costs were computed as follows: job no.1,$89,000; job no.2,$58,800; job no.3,$54,000.As of March 31,the following amounts had been charged to the Work in Process Inventory controlling account in the general ledger: (a)Prepare the general journal entry to reflect the jobs completed during March: (b)Compute the cost of the unfinished jobs at March 31.$__________

Question

Job order cost system
Continental Company uses a job order cost accounting system.During March,three jobs were completed and the costs were computed as follows: job no.1,$89,000; job no.2,$58,800; job no.3,$54,000.As of March 31,the following amounts had been charged to the Work in Process Inventory controlling account in the general ledger:  (a)Prepare the general journal entry to reflect the jobs completed during March:  (b)Compute the cost of the unfinished jobs at March 31.$__________

Quizplus · Accepted Answer

The Answer of Job order cost system
Continental Company uses a job order cost accounting system.During March,three jobs were completed and the costs were computed as follows: job no.1,$89,000; job no.2,$58,800; job no.3,$54,000.As of March 31,the following amounts had been charged to the Work in Process Inventory controlling account in the general ledger:  (a)Prepare the general journal entry to reflect the jobs completed during March:  (b)Compute the cost of the unfinished jobs at March 31.$__________

Job Order Cost System