ob 12 was completed in April. Job 10 was completed in May. Jobs 11 and 13 were completed

in June. Each job was sold for 30% above its cost in the month following completion.

Instructions

What is the balance in Finished Goods Inventory at the end of each month?

a.April 30$1,200

May 31$11,600

June 30$20,300

b.April30$5,300

May31$11,600

June30$19,100

c.April30$1,200

May31$12,800

June30$19,100

d.April30$1,200

May31$11,600

June30$19,100

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Instructions

What is the gross profit for May, June, and July?

a.May $360

June $3,480

July $5,730

b.May$360

June$3,840

July $5,730

c.May$1,360

June$3,480

July $5,730

d.May$360

June$3,480

July $6,730

Homer Company begins operations on April 1. Information from job cost sheets shows the following. Manufacturing Costs Assigned Job Month Number April May June Completed 10 $7,200 $4,400 May 11 4.100 3,900 $3,000 June 12 1,200 April 13 4.700 3,400 June 14 6,600 3,200 Not complete Job 12 was completed in April. Job 10 was completed in May. Jobs 11 and 13 were completed in June. Each job was sold for 30% above its cost in the month following completion. Instructions