Concept explainers
Exercise 19-5
P1 P2 P3
Custom Cabinetry has one job in process (Job 120) as of June 30; at that time, its
1. Prepare
a. Direct materials used in production.
b. Direct labor used in production.
c. Overhead applied.
d. The sale of Job 120.
e. Cost of goods sold for Job 120.
2. Compute the July 31 balances of the Work in Process Inventory and the Finished Goods Inventory accounts. (Assume there are no jobs in Finished Goods Inventory as of June 30.)
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FUND. ACCOUNTING PRINCIPLES >CUSTOM<
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