Question

Job costing 1680000 to manufacture according to their job cost sheet were completed during the year pass the journal entry

Answer 1

Answer:

Date               Account Title                                             Debit              Credit

XX-XX-XX      Finished Goods                                       $1,680,000

                      Work in Process                                                             $1,680,000

The good would be transferred at cost to the Finished goods account which would be debited to show its increase.

Work in Process will be credited to show that the job is being taken from it.