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A manufacturer began operations on April 1 and reports the information below. All jobs are sold for 20% above cost. Job number Manufacturing costs
A manufacturer began operations on April 1 and reports the information below. All jobs are sold for 20% above cost. Job number Manufacturing costs April $ 850 $ 2,170 May 700 1,890 1,250 2,680 525 450 3,650 Job Status at May 31 Completed and sold during May In process Completed but not sold Completed and sold during May In process 1. Compute the May 31 balance in (a) Work in Process Inventory and (b) Finished Goods Inventory. 2. Compute gross profit for May. Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2 Compute the May 31 balance in Work in Process Inventory. Work in Process Inventory Total Total Required 10 >
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