Question
Derry Company uses job order costing. At the end of the month, the following information was gathered. Job# Total Cost Complete? Sold? 301 $1,600 Yes
Derry Company uses job order costing. At the end of the month, the following information was gathered.
Job# Total Cost Complete? Sold?
301 $1,600 Yes No
302 $1,240 Yes Yes
303 $780 No No
304 $2,300 Yes No
305 $4,150 Yes No
306 $350 No No
307 $710 Yes Yes
308 $620 No No
309 $1,200 No No
310 $515 No No
The beginning balance of Finished Goods was $300, consisting of Job 300 which was not sold by the end of the month.
1: Calculate the balance in Work in Process at the end of the month.
2: Calculate the balance in Finished Goods at the end of the month.
3: Calculate Cost of Good Sold for the month.
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