2. Calculate the balance in Work in Process on July 31. The balance in Work in Process on July 31 is _____

3. Calculate the balance in Finished Goods on July 31. The balance in Finished Goods on July 31 is __________.

4. Calculate Cost of Goods Sold for July. The cost of goods sold for July is __________.

5. Calculate operating income for Prull Company for the month of July. The operating income for the month of July is ___________.

Job-Order Cost Sheets, Balance in Work in Process and Finished Goods Prull Company, a job-order costing firm, worked on three jobs in July. Data are as follows: Overhead is applied to jobs at the rate of $10 per machine hour. By July 31 , Jobs 86 and 88 were completed. Jobs 82 and 86 were sold. Job 87 remained in process. On July 1 , the balance in Finished Goods was $49,000 (consisting of Job 82 for $25,600 and Job 84 for $23,400 ). Prull prices its jobs at cost plus 20%. During July, variable marketing expenses were 4% of sales, and fixed marketing expenses were $1,275; administrative expenses were $3,900. (Round all amounts to the nearest dollar.) Required: 1. Prepare job-order cost sheets for all jobs in process during July, showing all costs through July 31 . All amount cells must have an entry; enter zeros as needed