The following account appears in the ledger after only part of the postings have been completed for January:
|
|
Work in Process |
|
Balance, January 1 |
$15,500 |
|
Direct materials |
86,200 |
|
Direct labor |
64,300 |
|
Factory overhead |
93,700 |
Jobs finished during January are summarized as follows:
|
Job 320 |
$57,600 |
Job 327 |
$26,100 |
|
Job 326 |
75,400 |
Job 350 |
94,800 |
a. Journalize the entry to record the jobs completed.
b. Determine the cost of the unfinished jobs at January 31.