King Tool is a machine shop that uses job order costing. Overhead is applied to individual jobs at a predetermined rate based on direct labor costs. The job cost sheet for job no. 321 appears below. JOB COST SHEET
JOB NUMBER: 321 DATE STARTED: May 10
PRODUCT: 2" Brass Check Valves DATE COMPLETED: May 21
UNITS COMPLETED: 5,000
Direct materials used 8,000
Direct labor 2,600
Manufacturing overhead applied 9,400
Total cost of job no. 321 $20,000
Unit cost ($20,000 / 5,000 units) $ 4
Prepare general journal entries to:
a. Summarize the manufacturing costs charged to job no. 321. (Use one compound entry.)
b. Record the completion of job no. 321.
c. Record the credit sale of 4,000 units from job no. 321 at a unit sales price of $10. Record in a separate entry the related cost of goods sold.

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