Question
JJ&LL Manufacturing began business on January 1. During its month of operation, JJ&LL worked on four industrial jobs and reported the following information at month-end:
JJ&LL Manufacturing began business on January 1. During its month of operation, JJ&LL worked on four industrial jobs and reported the following information at month-end:
| Job 1 | Job 2 | Job 3 | Job 4 | |
| Direct Materials | $1,000 | $4,000 | $3,500 | $1,800 |
| Direct Labor | 12,000 | 13,000 | 12,000 | 900 |
| Applied Factory Overhead | 1,500 | 2,500 | 7,500 | 200 |
| Job completed: | Jan 15 | Jan 18 | Jan 25 | Not completed |
| Job sold: | Jan 23 | Not sold | Not sold | N/A |
| Revenues: | $25,000 | N/A | N/A | N/A |
What is the balance in Finished Goods at the end of the period?
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Information Technology Control And Audit
Authors: Sandra Senft, Frederick Gallegos, Aleksandra Davis
4th Edition
1439893209, 978-1439893203
