Question - Bella's Bracelets uses a job order costing system. On March 1, 2017 Selena Gomez ordered a gold bracelet:
3_1 Factory orders 20 ounces of gold from the warehouse. The gold cost $600 per ounce.
3_2/3_8 The factory works on the bracelet. Direct labor charged 30 hours at $70 per hour.
Manufacturing overhead is charged to jobs based on direct labor hours. The predetermined overhead rate is $30 per direct labor hours.
3_9 The bracelet is completed and sent to the storeroom.
3_10 The bracelet is delivered to Selena Gomez and she is billed $20,000.
Required: Prepare the appropriate journal entries and post them to the ledger.