The job cost sheets example

The job cost sheets example - Solution The three summary...

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The job cost sheets example Danielle Company is working on two job orders. The job cost sheets show the following: Direct materials—Job 120 $6,000; Job 121 $3,600 Direct labor—Job 120 $4,000; Job 121 $2,000 Manufacturing overhead—Job 120 $5,000; Job 121 $2,500 Prepare the three summary entries to record the assignment of costs to Work in Process from the data on the job cost sheets.
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Unformatted text preview: Solution The three summary entries are: Work in Process Inventory ($6,000 + $3,600) 9,600 Raw Materials Inventory 9,600 (To assign materials to jobs) Work in Process Inventory ($4,000 + $2,000) 6,000 Factory Labor 6,000 (To assign labor to jobs) Work in Process Inventory ($5,000 + $2,500) 7,500 Manufacturing Overhead 7,500 (To assign overhead to jobs)...
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