A. What was the beginning balance in Work in Process inventory?
B. Prepare the following journal entries:
i. Record the amount of Raw Materials issued to production during August.
ii. Record the Manufacturing Overhead allocated to production during August.
iii. Transfer completed jobs from WIP to Finished Goods Inventory
C. Assume that during August, indirect manufacturing costs of $ 15,500 were incured. Indicate the amount of over or under applied overhead for August and prepare the Journal Entry to eliminate such amount using the write-off method.
D. Assume that jobs 667, 669 and 670 were sold during August and there was no beginning finished goods inventory? What was the cost of goods sold for the month of August?