Exercise 16-10 Tierney Company begins operations on April 1. Information from job cost sheets shows the following Manufacturing Costs Assigned Job 10 12 Month Number AilMay JuneCompleted $5,600 4,300 $7,200 5,800 1,800 May $3,700 June April 5,100 June 6,000 6,700 13 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. What is the balance in Work in Process Inventory at the end of each month? Work in Process Invento April 30 May 31 June 30 What is the balance in Finished Goods Inventory at the end of each month? Finished Goods Inventor April 30 May 31 June 30 What is the gross profit for May, June, and July? Gross Profit May une s July s Exercise 16-10 Tierney Company begins operations on April 1. Information from job cost sheets shows the following Manufacturing Costs Assigned Job 10 12 Month Number AilMay JuneCompleted $5,600 4,300 $7,200 5,800 1,800 May $3,700 June April 5,100 June 6,000 6,700 13 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. What is the balance in Work in Process Inventory at the end of each month? Work in Process Invento April 30 May 31 June 30 What is the balance in Finished Goods Inventory at the end of each month? Finished Goods Inventor April 30 May 31 June 30 What is the gross profit for May, June, and July? Gross Profit May une s July s