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Derry Company uses job-order costing. At the end of the month, the following information was gathered: Job # Total Cost Complete? Sold? 301 $1,590
Derry Company uses job-order costing. At the end of the month, the following information was gathered: Job # Total Cost Complete? Sold? 301 $1,590 Yes No 302 1,300 Yes Yes 303 760 No 304 2,500 Yes 305 4,120 Yes 306 420 No 307 730 Yes 308 540 No 309 1,290 No 310 510 No 2 2 2 2 2 2 2 2 2 No. Yes The beginning balance of Finished Goods was $310, 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. 2. Calculate the balance in Finished Goods at the end of the month. 3. Calculate Cost of Goods Sold for the month.
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