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C. What is the gross profit for May, June, and July? Tierney Company begins operations on April 1. Information from job cost sheets shows the

C. What is the gross profit for May, June, and July?

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Tierney Company begins operations on April 1. Information from job cost sheets shows the following. Manufacturing Costs Assigned Job Month Number April May June Completed 10 $5,300 $4,500 May 11 4,200 4,000 $2,100 June 12 1,300 April 13 4,800 4,600 June 14 6,000 3,700 Not complete Job 12 was completed in April. Job 10 was completed in May. Jobs 11 and 13 were completed in June. Each job was sold for 25% above its cost in the month following completion. (a) Your answer is correct. What is the balance in Work in Process Inventory at the end of each month? Work in Process Inventory April 30 $ 9500 May 31 19000 June 30 $ 9700(b) Your answer is correct. What is the balance in Finished Goods Inventory at the end of each month? Finished Goods Inventory April 30 1300 May 31 $ 9800 June 30 $ 19700 eTextbook and Media Attempts: 1 of 5 used (c) What is the gross profit for May, June, and July? Gross Profit May $ June $ July $

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