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Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during March-Job P and Job Q. Job P was completed and sold by the end of the March and Job Q was incomplete at the end of the March. The company uses a plant wide predetermined overhead rate based on direct labor-hours. The following additional information is available for the company as a whole and for Jobs P and Q (all data and questions relate to the month of March):
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| Estimated total fixed manufacturing overhead |
$ |
14,500 |
| Estimated variable manufacturing overhead per direct labor-hour |
$ |
1.90 |
| Estimated total direct labor-hours to be worked |
|
2,900 |
| Total actual manufacturing overhead costs incurred |
$ |
18,000 |
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Job P |
Job Q |
| Direct materials |
$ |
18,500 |
$ |
8,900 |
| Direct labor cost |
$ |
40,000 |
$ |
10,000 |
| Actual direct labor-hours worked |
|
2,000 |
|
500 |
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| Assume the ending raw materials inventory is $1,900 and the company does not use any indirect materials. |
| Prepare the journal entry to transfer costs from Work in Process to Finished Goods. (Do not round intermediate calculations.) |
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