Reference no: EM132552853

Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during March-Job P and Job Q. Job P was completed and sold by the end of the March and Job Q was incomplete at the end of the March. The company uses a plantwide predetermined overhead rate based on direct labor-hours.

The following additional information is available for the company as a whole and for Jobs P and Q (all data and questions relate to the month of March):

Estimated total fixed manufacturing overhead                             $13,200

Estimated variable manufacturing overhead per direct labor-hourn      $1.20

Estimated total direct labor-hours to be worked                               3,300

Total actual manufacturing overhead costs incurred                       $17,000

                                                          Job P                        Job Q

Direct materials                         $17,500                    $9,300

Direct labor cost                          $43,200             $11,700

Actual direct labor-hours worked           2,400                     650

Question 1: Prepare a journal entry to transfer costs from Work in Process to Finished Goods