Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Jenn's Jewelry makes custom jewelry and uses job order costing. In November. Jenn completed 1 4 jobs with costs totaling $ 1 0 , 0

Jenn's Jewelry makes custom jewelry and uses job order costing. In November. Jenn completed 14 jobs with costs totaling $10,000. She also had 12 incomplete jobs at the end of November with costs totaling $8,000. On November 30, what were the balances in Jenr's Work in Process Inventory account and her Finished Goods Inventory account? There were no beginning balances in either account and Jenn made no sales during November.
Work in Process $18.000; Finished Goods $0
Workin Process $8,000; Finished Goods $10,000
Work in Process $10,000; Finished Goods $8,000
Workin Process $0: Finished Goods $18,000
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started