Tyler Tooling Company uses a job order cost system with overhead applied to products on...
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Tyler Tooling Company uses a job order cost system with overhead applied to products on the basis of machine hours. For the upcoming year, the company estimated its total manufacturing overhead cost at $ and total machine hours at During the first month of operations, the company worked on three jobs and recorded the following actual direct materials cost, direct labor cost and machine hours for each job: Job was completed and sold for $ Job was completed but not sold. Job is still in process. Actual overhead costs recorded during the first month of operations totaled $ Required: Prepare a journal entry showing the transfer of Job into Finished Goods Inventory upon its completion. Prepare the journal entries to recognize the sales revenue and cost of goods sold for Job Prepare the journal entry to transfer the balance of the Manufacturing Overhead account to Cost of Goods Sold. Note: If no entry is required for a transactionevent select No Journal Entry Required" in the first account field. Do not round your intermediate calculations. 
Tyler Tooling Company uses a job order cost system with overhead applied to products on the basis of machine hours. For the
upcoming year, the company estimated its total manufacturing overhead cost at $ and total machine hours at During
the first month of operations, the company worked on three jobs and recorded the following actual direct materials cost, direct labor
cost and machine hours for each job:
Job was completed and sold for $
Job was completed but not sold.
Job is still in process.
Actual overhead costs recorded during the first month of operations totaled $
Required:
Prepare a journal entry showing the transfer of Job into Finished Goods Inventory upon its completion.
Prepare the journal entries to recognize the sales revenue and cost of goods sold for Job
Prepare the journal entry to transfer the balance of the Manufacturing Overhead account to Cost of Goods Sold.
Note: If no entry is required for a transactionevent select No Journal Entry Required" in the first account field. Do not round
your intermediate calculations.
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