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Please show all steps for a-d C3.52 Triple C Ltd. is in the business of manufacturing cabinets, computer stands, and countertops. Most of its jobs
Please show all steps for a-d
C3.52 Triple C 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: Job Number 101 103 Costs Incurred to July 1 Direct Direct Materials Labour $9,000 2,500 1,500 600 100 Added in July Direct Direct Materials Labour $ 0 $1,000 Status at July 31 Completed but not sold Not completed Completed but not sold Not completed 500 800 3,000 200 115 Activity in accounts: Balance July 1 $3,000 Opening Account Direct Materials Direct Labour Purchased in July $6,000 Ending Balance July 31 Issued/Used in July $4,900 8,000 On July 1, finished goods inventory consisted of one job, 105, with a total cost of $18,000. This job was sold during July. (Note: Manufacturing overhead is applied at 120% of the direct labour cost.) c. Work in Process Inventory d. Finished Goods Inventory Instructions Calculate the following as at July 31: a. The costs of completed jobs 101 and 111 b. The account balances in Direct Materials InventoryStep by Step Solution
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