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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 1 2
A manufacturer began operations on April 1 and reports the information below. All jobs are sold for 20% above cost. Job number 1 2 3 4 5 Manufacturing costs April May $ 890 $ 2,210 Job Status at May 31 Completed and sold during May Completed but not sold 740 1,290 565 1,930 2,720 490 3,690 In process 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 1B Required 2 Compute the May 31 balance in Work in Process Inventory. Work in Process Inventory Total Total Required 1A Required 1B >
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