Question
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
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 Cost | Complete? | Sold? |
---|---|---|---|
301 | $1,560 | Yes | No |
302 | 1,120 | Yes | Yes |
303 | 880 | No | No |
304 | 2,210 | Yes | No |
305 | 4,030 | Yes | No |
306 | 400 | No | No |
307 | 670 | Yes | Yes |
308 | 510 | No | No |
309 | 1,130 | No | No |
310 | 570 | No | No |
The beginning balance of Finished Goods was $410, consisting of Job 300, which was not sold by the end of the month.
Required:
1. Calculate the balance in Work in Process at the end of the month. fill in the blank 1 of 1$
2. Calculate the balance in Finished Goods at the end of the month. fill in the blank 1 of 1$
3. Calculate Cost of Goods Sold for the month. fill in the blank 1 of 1$
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