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Capital Goods Inc. started operations on March 1st and works on defense projects. It uses Job Order Costing to assign costs to each project. Operating
Capital Goods Inc. started operations on March 1st and works on defense projects. It uses Job Order Costing to assign costs to each project. Operating data for the projects are as follows: Job Started Finished Sold Total Mfg. Cost incurred in March $100,000 Total Mfg. Cost incurred in April 1 3/1 4/4 4/21 $25,000 2 3/10 3/30 4/4 210,000 3 3/21 4/28 5/11 50,000 $100,000 4 3/28 4/29 5/29 5,000 125,000 5 4/8 5/14 6/1 90,000 6 4/15 5/21 6/15 45,000 7 4/19 6/1 6/21 35,000 8 4/24 5/21 5/30 20,000 Determine the following: a) Costs in WIP as of 3/31 b) Costs in FG as of 4/30 c) Cost of Goods Sold for April (2 points) (1.5 points) (1.5 points)
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