Riverside Engineering is a machine shop that uses job order costing. Overhead is applied to individual jobs at a predetermined rate based on direct labor costs. The job cost sheet for job no. 321 appears below.
JOB COST SHEET
JOB NUMBER: 321 DATE STARTED: May 10
PRODUCT: 2″ Brass Check Valves DATE COMPLETED: May 21
UNITS COMPLETED: 4000
Direct materials used $ 7,800
Direct labor 1,500
Manufacturing overhead applied 3,000
Total cost of job no. 321 $ 12,300
Unit cost ($12,300 Af· 4,000 units) $ 3.08
a. Summarize the manufacturing costs charged to job no. 321.
b. Record the completion of job no. 321.
c. Record the credit sale of 2,100 units from job no. 321 at a unit sales price of $5. Record in a separate entry the related cost of goods sold.
Prepare general journal entries to the above statements (Omit the “$” sign in your response):