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Custom Cabinetry has one Job in process $($Job $120)$ as of June $30$; at that time, Its Job cost sheet reports direct materlals of Custom Cabinetry has one job in process $($Job $120)$ as of June $30$; at that time, Its Job cost sheet reports direct materlals of

$$6,100,$ direct labor of $$4,400,$ and applied overhead of $$3,740.$ Custom Cabinetry applles overhead at the rate of $85\%$ of

direct labor cost. During July, Job $120$ is sold $($on credit$)$ for $$26,000,$ Job $121$ is started and completed, and Job $122$ is started

and still In process at the end of July. Custom Cabinetry Incurs the following costs during July.

Prepare journal entrles for the following July transactions and events a through $e.$

a$.$ Direct materials used.

b$.$ Direct labor used.

c$.$ Overhead applied.

d$.$ Sale of Job $120.$

e$.$ Cost of goods sold for Job $120.$ Hint Job $120$ has costs from June and July.

Compute the July $31$ balances of the Work in Process Inventory and the Finished Goods Inventory accounts. $($There were

no jobs in FInished Goods Inventory at June $30.)$

Complete this question by entering your answers in the tabs below.

Required $1$

Required $2$

Compute the July $31$ balances of the Work in Process Inventory and the Finished Goods Inventory accounts. $($There were no

jobs in Finished Goods Inventory at June $30.)$

$$6,100,$ direct labor of $$4,400,$ and applied overhead of $$3,740.$ Custom Cabinetry applies overhead at the rate of $85\%$ of

direct labor cost. During July, Job $120$ is sold $($on credit$)$ for $$26,000,$ Job $121$ is started and completed, and Job $122$ is

started and stlll In process at the end of July. Custom Cabinetry Incurs the following costs during July.

Prepare journal entrles for the following July transactions and events a through $e.$

a$.$ Direct materlals used.

b$.$ Direct labor used.

c$.$ Overhead applied.

d$.$ Sale of Job $120.$

e$.$ Cost of goods sold for Job $120.$ Hint. Job $120$ has costs from June and July.

Compute the July $31$ balances of the Work In Process Inventory and the Finished Goods Inventory accounts. $($There

were no Jobs in FInIshed Goods Inventory at June $30.)$

Complete this question by entering your answers in the tabs below.

Prepare journal entries for the following July transactions and events a through e$.$

Journal entry worksheet

Record the entry to assign direct materials to job.

Note: Enter debits before credits.

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