| Prepare the journal entries to record the cost of jobs completed. |
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Following is partial information for Delamunte Industries for the month of August: |
| Work In Process | |||
| Balance, August 1 | $ | 128,000 | |
| Direct materials | 110,800 | ||
| Direct labor | 160,000 | ||
| Applied overhead | 134,000 | ||
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Jobs finished during August are summarized here:
| Job # | Cost of Jobs Completed | ||
| 234 | $ | 75,950 | |
| 237 | 38,800 | ||
| 231 | 45,000 | ||
| 246 | 20,000 | ||