Need help with cost accounting

[Keitaro]

I don't understand much of cost accounting, and need help and explanations of how to do this...

Custom Cabinets Inc. manufactures goods on a job order basis.
During the month of November, three jobs were started. (There was no work
in process at the beginning of the month.) Jobs 401 and 402 were completed
and sold for $14,500 and $19,000, respectively, during the month; Job 403
was still in process at the end of November.

The following data are taken from the job cost sheets for each job.
Factory overhead charges include a total of $900 of indirect materials
and $600 of indirect labor. One work in process control account is used.

----------------------------------------- Job 401-------Job 402-----Job 403
Direct Materials--------------------$3200-------$3800-----------$2000
Direct Labor-------------------------$2400-------$3500-----------$1500
Factory Overhead-----------------$1250-------$2000-----------$ 850

Prepare a journal entry to record each of the following;
a. Materials used
b. Factory wages and salaries earned
c. Factory Overhead transferred to Work in Process
d. Jobs completed
e. Jobs sold

 

[Becky]

What do you have so far?

 

[Keitaro]

Nothing, I'm lost at what to put for journal entries as well as work in process.

 

[iNinjaNotes]

I made a tutorial for management accounting journal entries.

Check it out, it should be useful to what you're trying to do.

Management Accounting Journal Entries: Management Accounting video 24 - YouTube

 

[Keitaro]

Still clueless, can you use examples with the entries I need?

 

[Triest123]

a. Materials used
Dr WIP Control [(3200 + 3800 + 2000)] $9,000
Dr Manufacturing Overhead Control $900
Cr Materials Control $9,900
To record the direct & indirect material used in the job 401, 402 & 403

b. Factory wages and salaries earned
Dr WIP Control [(2400 + 3500 + 1500) $7,400
Dr Manufacturing Overhead Control $600
Cr Wages Payable Control $8,000
To record the direct & indirect labour incurred for the job 401, 402 & 403

c. Factory Overhead transferred to Work in Process
Dr WIP Control [(1250 + 2000 + 850)] $4,100
Cr Manufacturing Overhead Control - Indirect Materials $900
Cr Manufacturing Overhead Control - Indirect Labour $600
Cr Manufacturing Overhead Control - Other Indirect costs $2,600
Being transferred the factory overheads to the WIP for the
job 401, 402 & 403

d. Jobs completed
Dr Fininshed Goods Control $16,150
Cr WIP Control $16,150
To record the completion of the Job 401 & 402

e. Jobs sold
(i) Dr Account Receivable Control $33,500
Cr Sales $33,500
To record the sales for the Job 401 & 402

(ii) Dr Cost of Goods Sold $16,150
Cr Finished Goods Control $16,150
To record the cost of goods sold for the Job 401 & 402

 

[Keitaro]

c.
Cr Manufacturing Overhead Control - Other Indirect costs $2,600

Can you explain where the 2600 was from?

 

[Triest123]

Can you explain where the 2600 was from?

The $2600 is the balancing figure of the total overhead costs for
Job 401 ($1250), Job 402 ($2000) & Job 403 ($850) as the overhead costs
has been included a total of $900 of indirect materials and $600 of indirect labor
as given by the question.