Job

$-$

Order Cost Sheets, Balance in Work in Process and Finished Goods

Prull Company, a job

$-$

order costing firm, worked on three jobs in July. Data are as follows:

Line Item Description Job

$8$

$6$

$$Job

$8$

$7$

$$Job

$8$

$8$

Balance, July

$1$

$$$

$2$

$1$

$,$

$3$

$0$

$0$

$$$

$6$

$,$

$1$

$6$

$0$

$$$

$0$

Direct materials $

$1$

$0$

$,$

$3$

$8$

$0$

$$$

$1$

$2$

$,$

$3$

$2$

$0$

$$$

$1$

$6$

$,$

$0$

$5$

$0$

Direct labor $

$1$

$5$

$,$

$9$

$2$

$0$

$$$

$1$

$2$

$,$

$1$

$1$

$0$

$$$

$2$

$4$

$,$

$0$

$0$

$0$

Machine hours

$5$

$0$

$0$

$3$

$2$

$0$

$9$

$9$

$0$

Overhead is applied to jobs at the rate of $

$1$

$7$

$$per machine hour. By July

$3$

$1$

$,$

$$Jobs

$8$

$6$

$$and

$8$

$8$

$$were completed. Jobs

$8$

$2$

$$and

$8$

$6$

$$were sold. Job

$8$

$7$

$$remained in process. On July

$1$

$,$

$$the balance in Finished Goods was $

$4$

$9$

$,$

$1$

$0$

$0$

$($

consisting of Job

$8$

$2$

$$for $

$2$

$5$

$,$

$6$

$5$

$0$

$$and Job

$8$

$4$

$$for $

$2$

$3$

$,$

$4$

$5$

$0$

$)$

$.$

Prull prices its jobs at cost plus

$3$

$0$

$\%$

$.$

$$During July, variable marketing expenses were

$5$

$\%$

$$of sales, and fixed marketing expenses were $

$1$

$,$

$9$

$7$

$0$

; administrative expenses were $

$4$

$,$

$8$

$4$

$0$

$.$

$($

Round all amounts to the nearest dollar.

$)$

Question Content Area

$1$

$.$

$$ Prepare job

$-$

order cost sheets for all jobs in process during July, showing all costs through July

$3$

$1$

$.$

$$All amount cells must have an entry; enter zeros as needed.

Prull Company

Job

$-$

Order Cost Sheets

For the Month of July

Line Item Description Job

$8$

$6$

$$Job

$8$

$7$

$$Job

$8$

$8$

Balance, July

$1$

$$$Balance, July

$1$

$2$

$1$

$,$

$3$

$0$

$0$

$Balance, July

$1$

$6$

$,$

$1$

$6$

$0$

$Balance, July

$1$

$0$

Direct materials Direct materials

$1$

$0$

$,$

$3$

$8$

$0$

Direct materials

$1$

$2$

$,$

$3$

$2$

$0$

Direct materials

$1$

$6$

$,$

$0$

$5$

$0$

Direct labor Direct labor

$1$

$5$

$,$

$9$

$2$

$0$

Direct labor

$1$

$2$

$,$

$1$

$1$

$0$

Direct labor

$2$

$4$

$,$

$0$

$0$

$0$

Applied overhead Applied overhead

$8$

$,$

$5$

$0$

$0$

Applied overhead

$5$

$,$

$4$

$4$

$0$

Applied overhead

$1$

$6$

$,$

$8$

$3$

$0$

Total $Total

$5$

$6$

$,$

$1$

$0$

$0$

$Total

$3$

$6$

$,$

$0$

$3$

$0$

$Total

$5$

$6$

$,$

$8$

$8$

$0$

Question Content Area

$2$

$.$

$$ Calculate the balance in Work in Process on July

$3$

$1$

$.$

The balance in Work in Process on July

$3$

$1$

$$is

$3$

$6$

$,$

$0$

$3$

$0$

$3$

$.$

$$ Calculate the balance in Finished Goods on July

$3$

$1$

$.$

The balance in Finished Goods on July

$3$

$1$

$$is

$.$

$.$

$.$

$4$

$.$

$$ Calculate Cost of Goods Sold for July.

The cost of goods sold for July is

$.$

$.$

$.$

$5$

$.$

$$ Calculate operating income for Prull Company for the month of July.

The operating income for the month of July is

$.$

$.$

$.$