Entries and Schedules for Unfinished Jobs and Completed Jobs Staircase Equipment

Question

Entries and Schedules for Unfinished Jobs and Completed Jobs

Staircase Equipment Company uses a job order cost system. The following data summarize the operations related to production for April 2012, the first month of operations:

1. Journalize the entries to record the summarized operations. For a compound transaction, if an amount box does not require an entry, leave it blank or enter "0".

2. On your own paper, post the appropriate entries to T accounts for Work in Process and Finished Goods. Then, give the following balances:

3. Prepare a schedule of unfinished jobs to support the balance in the work in process account.

4. Prepare a schedule of completed jobs on hand to support the balance in the finished goods account.

Job Materials Factory Labor No. 301 $3,220 $2,950 No. 302 3,930 3,980 No. 303 2,610 1,950 No. 304 8,820 7,320 No. 305 5,600 5,580 No. 306 4,090 3,540 For general factory use 1,090 4,370

Explanation / Answer

hey dis s jus d same method like urs jus edit the numbers here!!! i can help u solving now i have to post since only 2 mins is left u rate me i ll correct and upload in pastebin!!! Journalize the entries to record the summarized operations. For a compound transaction, if an amount box does not require an entry, leave it blank or enter "0".


a. Materials purchased on account, $660,000.

........Materials.....................

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