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: Job 86 Job 87 Job 88 Balance, July 1 $21,300 $6,150 $0 Direct materials $10,470 $12,240 $16,190 Direct labor $16,000 $12,300 $24,090 Machine hours 500 300 1,010 Overhead is applied to jobs at the rate of $16 per machine hour. By July 31, Jobs 86 and 88 were completed. Jobs 82 and 8 were sold. Job 87 remained in process. On July 1, the balance in Finished Goods was $49,000 (consisting of Job 82 for $25,980 and Job B4 for $23,420) Prull prices its jobs at cost plus 30%. During July, variable marketing expenses were 5% of sales, and fixed marketing expenses were $1,950; administrative expenses were $1,770 (Round all amounts to the nearest dollar) Required: 1. Prepare job-order cost sheets for all Jobs in process during July, showing all costs through July 31. All amount cells must have an entry; enter zeros as needed. Prull Company Job-Order Cost Sheets For the Month of July Job 86 Job 87 Job 88 Balance, July 1 Direct materials Direct labor Applied overhead Total 2. Calculate the balance in Work in Process on July 31. The balance in Work in Process on July 31 is $ 3. Calculate the balance in Finished Goods on July 31. The balance in Finished Goods on July 31 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 $ 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: Job 86 Job 87 Job 88 Balance, July 1 $21,300 $6,150 $0 Direct materials $10,470 $12,240 $16,190 Direct labor $16,000 $12,300 $24,090 Machine hours 500 300 1,010 Overhead is applied to jobs at the rate of $16 per machine hour. By July 31, Jobs 86 and 88 were completed. Jobs 82 and 8 were sold. Job 87 remained in process. On July 1, the balance in Finished Goods was $49,000 (consisting of Job 82 for $25,980 and Job B4 for $23,420) Prull prices its jobs at cost plus 30%. During July, variable marketing expenses were 5% of sales, and fixed marketing expenses were $1,950; administrative expenses were $1,770 (Round all amounts to the nearest dollar) Required: 1. Prepare job-order cost sheets for all Jobs in process during July, showing all costs through July 31. All amount cells must have an entry; enter zeros as needed. Prull Company Job-Order Cost Sheets For the Month of July Job 86 Job 87 Job 88 Balance, July 1 Direct materials Direct labor Applied overhead Total 2. Calculate the balance in Work in Process on July 31. The balance in Work in Process on July 31 is $ 3. Calculate the balance in Finished Goods on July 31. The balance in Finished Goods on July 31 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 $