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Jupiter Manufacturing began business on January 1. During its first year of operation, Jupiter worked on five industrial jobs and reported the following information as
Jupiter Manufacturing began business on January 1. During its first year of operation, Jupiter worked on five industrial jobs and reported the following information as at December 31:
Job 1 Job 2 Job 3 Job 4 Job 5
Direct Materials $1,000 $7,500 $4,000 $3,500 $1800
Direct Labor 12,000 20,000 13,000 12,000 900
Allocated Mfg. Overhead 1,500 6,000 2,500 7,500 200
Job completed: Jun 30 Sep 1 Oct 15 Nov 1 Not completed
Job sold: Jul 10 Sep 12 Not sold Not sold N/A
Revenues: $25,000 $39,000 N/A N/A N/A
What was the balance in Finished Goods Inventory as at Nov 30th?
Job 1 Job 2 Job 3 Job 4 Job 5
Direct Materials $1,000 $7,500 $4,000 $3,500 $1800
Direct Labor 12,000 20,000 13,000 12,000 900
Allocated Mfg. Overhead 1,500 6,000 2,500 7,500 200
Job completed: Jun 30 Sep 1 Oct 15 Nov 1 Not completed
Job sold: Jul 10 Sep 12 Not sold Not sold N/A
Revenues: $25,000 $39,000 N/A N/A N/A
What was the balance in Finished Goods Inventory as at Nov 30th?
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