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P7-1
Scrap sales total $550
200 incorrect on job 492, can be sold as salvage for $1.75 each
Materials : 1200
Labor : 150
FOH : 450
1800
P7-2
COGS 86400
WIP (90000-3600) 86400
COGS 87000
WIP (90000 - 3000) 87000
COGS 200000
WIP 200000
2. WIP 2000
Material (100 x 2) 200
Payroll (100 x 1/2 x 12) 600
FOH Applied (100 x 1/2 x 24) 1200
COGS 202000
WIP (200000 + 2000) 202000