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The following account appears in the ledger after only part of the postings have been completed for March: Work in Process

Balance, March 1 $18000
Direct materials $122500
Direct Labor $145000
Factory Over head $80000

Jobs finished during March are summarized as follows:

Job 320 $72400

Job 326 $79200

Job 327 $46200

Job 350 $144600

a. Journalize the entry to record the jobs completed.

b. Determine the cost of the unfinished jobs at March 31.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9988336

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