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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
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: Balance, July 11 Direct materials Direct labor Machine hours Job 86 Job 87 Job 88 $21,320 $6,280 50 $10,370 $12,350 $16,130 $15,970 $12,260 $24,030 480 320 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 86 were sold. Job 87 remained in process. On July 1, the balance in Finished Goods was $49,000 (consisting of Job 82 for $25,590 and Job 84 for $23,410). Prull prices its jobs at cost plus 30%. During July, variable marketing expenses were 5% of sales, and fixed marketing expenses were $2,040; administrative expenses were $4,850. (Round all amounts to the nearest dollar) Required: 1. Prepare job-order cost sheets for all jobs in process daring July, showing all costs through July 31. All amount cells must have an entry; enter zeros as needed. Prull Company
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