Custom Cabinetry has one job in process Job as of June ; at that time, its job cost sheet reports direct materials of $
direct labor of $ and applied overhead of $ Custom Cabinetry applies overhead at the rate of of direct labor cost.
During July, Job is sold on credit for $ Job is started and completed, and Job is started and still in process at the
end of July. Custom Cabinetry incurs the following costs during July.
Prepare journal entries for the following July transactions and events a through
a Direct materials used.
b Direct labor used.
c Overhead applied.
d Sale of Job
e Cost of goods sold for Job Hint. Job has costs from June and July.
Compute the July balances of the Work in Process Inventory and the Finished Goods Inventory accounts. There were no jobs
in Finished Goods Inventory at June
Complete this question by entering your answers in the tabs below.
Prepare journal entries for the following July transactions and events a through
Journal entry worksheet
Record the entry to assign direct.materials to job.
