Answered step by step
Verified Expert Solution
Question
1 Approved Answer
could someone also help me figure out what the gross profit is of May,June, and July & explain to me how tou figure it out?
could someone also help me figure out what the gross profit is of May,June, and July & explain to me how tou figure it out? thank you!!!
Pharoah Company begins operations on April 1. Information from job cost sheets shows the following Job Number Manufacturing Costs Assigned Month April May June Completed $6,800 $5,000 May 6,000 5,300 $2,600 June 10 11 12 2.300 April 13 5,300 5,600 June 14 6,600 4.600 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 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 ta $ 12.800 May 31 $ 23,200 June 30 $ 11,200 What is the balance in Finished Goods Inventory at the end of each month? Finished Goods Inventory April 30 $ 2300 May 31 $ 17 200 June 30 tA $ 38,900 Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started