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Determine the cost of the unfinished jobs at March

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Reference no: EM132684508

Problem - Entry for jobs completed; cost of unfinished jobs

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

Work in Process

Balance, March 1 $18,000

Direct materials 122,500

Direct labor 145,000

Factory overhead 80,000

Jobs finished during March are summarized as follows:

Job 320 $72,400

Job 326 $79,200

Job 327 $46,200

Job 350 $144,600

Required -

a. Journalize the entry to record the jobs completed.

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

Reference no: EM132684508

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