Preparing Journal Entries to Record Manufacturing and Nonmanufacturing Costs
Refer to the information in PA2-3 for Tyler Tooling Company.
Required:
1.Prepare a journal entry showing the transfer of Job 102 into Finished Goods Inventory upon its completion.
2. Prepare the journal entries to recognize the sales revenue and cost of goods sold for Job 101.
3. Prepare the journal entry to transfer the balance of the Manufacturing Overhead account to Cost of Goods Sold.
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