Sweeten company had no jobs in progress at the beginning of

Reference no: EM13575708

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 plant wide 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	$	14,500
Estimated variable manufacturing overhead per direct labor-hour	$	1.90
Estimated total direct labor-hours to be worked		2,900
Total actual manufacturing overhead costs incurred	$	18,000

	Job P		Job Q
Direct materials	$	18,500	$	8,900
Direct labor cost	$	40,000	$	10,000
Actual direct labor-hours worked		2,000		500

Assume the ending raw materials inventory is $1,900 and the company does not use any indirect materials.

Required:

Prepare the journal entry to transfer costs from Work in Process to Finished Goods. (Do not round intermediate calculations.)

Reference no: EM13575708

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