The following information relates to the manufacturingoperations of O\'Shaunessy

Question

The following information relates to the manufacturingoperations of O'Shaunessy mfg Co. during the month of March. Thecompany uses job odrering cost.
Prepare a general journal entries to summarize: g. Jobs with total accumulated costs of $116,000 werecompleted duing the month h. During March, units costing $128,000 were sold for$210,000. (All sales were made on account) The following information relates to the manufacturingoperations of O'Shaunessy mfg Co. during the month of March. Thecompany uses job odrering cost.
Prepare a general journal entries to summarize: g. Jobs with total accumulated costs of $116,000 werecompleted duing the month h. During March, units costing $128,000 were sold for$210,000. (All sales were made on account)

Explanation / Answer

(g) Finished GoodsInventory $116,000                                        Work in Process Inventory $116,000 [To record completion of Job duringthe month] (h)  Accounts Receivables $128,000                                        Sales $128,000 [To record the units costingsales]          Cost of GoodsSold $210,000                                         Finished Goods Inventory $210,000 [To record the Cost of GoodsSold] (g) Finished GoodsInventory $116,000                                        Work in Process Inventory $116,000 [To record completion of Job duringthe month] (h)  Accounts Receivables $128,000                                        Sales $128,000 [To record the units costingsales]          Cost of GoodsSold $210,000                                         Finished Goods Inventory $210,000 [To record the Cost of GoodsSold]

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