Homework SoursePlease ignore the amounts in work in process and finished go
(Please ignore the amounts in work in process and finished good. I dont think they are correct)
Solution
Required 1
Required 2
| Transaction | Particulars | Debit | Credit |
| a | Work in Process (Job 120) | $1,100 | |
| Work in Process (Job 121) | $8,300 | ||
| Work in Process (Job 122) | $2,800 | ||
| Direct Materials | $12,200 | ||
| b | Work in Process (Job 120) | $3,100 | |
| Work in Process (Job 121) | $4,100 | ||
| Work in Process (Job 122) | $2,700 | ||
| Direct Labor | $9,900 | ||
| c | Work in Process (Job 120) | $2,480 | |
| Work in Process (Job 121) | $3,280 | ||
| Work in Process (Job 122) | $2,160 | ||
| Manufacturing Overhead | $7,920 | ||
| *Direct Labor x 80% | |||
| d | Accounts Receivable | $30,000 | |
| Sales Revenue | $30,000 | ||
| e | Cost of Goods Sold | $6,680 | |
| Finished Goods (Job 120) | $6,680 |
