5-38 Balance of Work in Process and Finished Goods, Cost of Goods Sold

Derry Company uses job-order costing. At the end of the month, the following information was gathered:

Job #Total CostComplete?Sold?301$1,660YesNo3021,130YesYes303800NoNo3042,370YesNo3054,020YesNo306320NoNo307680YesYes308550NoNo3091,200NoNo310400NoNo

The beginning balance of Finished Goods was $340, consisting of Job 300 which was not sold by the end of the month.

Required:

1.Calculate the balance in Work in Process at the end of the month.

$

2.Calculate the balance in Finished Goods at the end of the month.

$

3.Calculate Cost of Goods Sold for the month.

$