Homework Answers
Journal Entry:
(1)
| Date | Account Name | Debit | Credit |
| Aug 31 | Finished Goods | $318,260 | |
| To Work In Process | $ 318,260 |
( $ 63,650 + 38,900 + 74,260 + 141,450)
( 2)
| Cost of unfinished Jobs | $ 35,370 |
Explanation:
| Balance in work in progress, august 31 | $ 15,710 | |
| Add: Direct Material | $ 127,720 | |
| Direct Labor | $ 137,780 | |
| Factory Overhead | $ 72,420 | $353,630 |
| Less: jobs finished during August | ($318,260) | |
| Unfinished Job | $ 35,370 |
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