1.) Johnson Company uses a job-order costing system and started the month of July with four jobs in process. The cost of beginning work in process plus the costs added during July are shown below: Job A Job E beginning cost ................ $4,900 $7,700 Job O Job U beginning cost ................ $6,300 $2,100 COSTS ADDED DURING JULY: Job A Job E direct materials used ......... $5,200 $3,900

direct labor cost ............. $6,400 $4,300 Job O Job U direct materials used ......... $4,600 $2,800 direct labor cost ............. $5,100 $3,700 Johnson Company applies overhead to jobs at a rate of 70% of direct materials used. During July, Johnson completed and sold Job A. Job E was completed during July, but only one-third of the job was sold as of the end of July. Job O was completed in July but none of the job was sold during July. Job U was not completed by the end of July. Johnson Company had actual overhead cost of $8,500 for July. Calculate Johnson Company's finished goods inventory balance at July 31.

2.) Johnson Company uses a job-order costing system and started the month of July with four jobs in process. The cost of beginning work in process plus the costs added during July are shown below: Job A Job E beginning cost ................ $4,900 $7,700 Job O Job U beginning cost ................ $6,300 $2,100 COSTS ADDED DURING JULY: Job A Job E direct materials used ......... $5,200 $3,900

direct labor cost ............. $6,400 $4,300 Job O Job U direct materials used ......... $4,600 $2,800 direct labor cost ............. $5,100 $3,700 Johnson Company applies overhead to jobs at a rate of 70% of direct materials used. During July, Johnson completed and sold Job A. Job E was completed during July, but only one-third of the job was sold as of the end of July. Job O was completed in July but none of the job was sold during July. Job U was not completed by the end of July. Johnson Company had actual overhead cost of $8,500 for July. Calculate Johnson Company's cost of goods sold for July after the overhead variance is closed.