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Pharoah Ltd. is in the business of manufacturing cabinets, computer stands, and countertops. Most of its jobs are contracts for home builders. The following information
Pharoah Ltd. is in the business of manufacturing cabinets, computer stands, and countertops. Most of its jobs are contracts for home builders. The following information is available for the month of July: Costs Incurred to July 1 Added in July Job Direct Direct Direct Direct Number Materials Labour Materials Labour Status at July 31 101 $10,530 $2,340 $0 $1,170 Completed but not sold 103 2,925 1,755 ? ? Not completed 111 702 120 585 3,510 Completed but not sold 115 936 210 Not completed Activity in accounts: Balance Purchased Issued/Used Ending Opening Account July 1 in July in July Balance July 31 Direct Materials $3,510 $7,020 $5,733 $ ? Direct Labour 9,360 On July 1, finished goods inventory consisted of one job, 105, with a total cost of $21,060. This job was sold during July. (Note: Manufacturing overhead is applied at 120% of the direct labour cost.)Your answer is correct. Calculate the costs of completed jobs 101 and 111 as at July 31. Job 101 Job 111 Completed job costs 18252 9273 eTextbook and Media Assistance Used V Your answer is correct. Calculate the account balances in Direct Materials Inventory as at July 31. Direct Materials Inventory 4797 eTextbook and Media Assistance UsedX Your answer is incorrect. Calculate the Work in Process Inventory as at July 31. Work in Process Inventory eTextbook and Media Assistance Used X Your answer is incorrect. Calculate the Finished Goods Inventory as at July 31. Finished Goods Inventory eTextbook and Media Assistance Used
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