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	$21,390	$6,180	$0
Direct materials	$10,430	$12,390	$16,080
Direct labor	$16,080	$12,100	$23,900
Machine hours	520	320	990

Overhead is applied to jobs at the rate of $15 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 $48,940 (consisting of Job 82 for $25,590 and Job 84 for $23,350).

Prull prices its jobs at cost plus 30%. During July, variable marketing expenses were 3% of sales, and fixed marketing expenses were $2,030; administrative expenses were $4,820. (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	$fill in the blank decaae052fe8052_1	$fill in the blank decaae052fe8052_2	$fill in the blank decaae052fe8052_3
Direct materials	fill in the blank decaae052fe8052_4	fill in the blank decaae052fe8052_5	fill in the blank decaae052fe8052_6
Direct labor	fill in the blank decaae052fe8052_7	fill in the blank decaae052fe8052_8	fill in the blank decaae052fe8052_9
Applied overhead	fill in the blank decaae052fe8052_10	fill in the blank decaae052fe8052_11	fill in the blank decaae052fe8052_12
Total	$fill in the blank decaae052fe8052_13	$fill in the blank decaae052fe8052_14	$fill in the blank decaae052fe8052_15

2. Calculate the balance in Work in Process on July 31. The balance in Work in Process on July 31 is $fill in the blank 6a7528060fd8016_1.

3. Calculate the balance in Finished Goods on July 31. The balance in Finished Goods on July 31 is $fill in the blank 6a7528060fd8016_2.

4. Calculate Cost of Goods Sold for July. The cost of goods sold for July is $fill in the blank 6a7528060fd8016_3.

5. Calculate operating income for Prull Company for the month of July. The operating income for the month of July is $fill in the blank 6a7528060fd8016_4.