Question 27 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: Costs Incurred Added in July to July 1 Job Direct Direct Direct Direct Number Materials Labour Materials Labour Status at July 31 101 $9,000 $2,000 $ 0 $1,000 Completed but not sold 103 2,500 1,500 ? ? Not completed 111 600 100 500 3,000 Completed but not sold 115 800 200 Not completed Activity in accounts: Opening Account Direct Materials Direct Labour Balance Purchased Issued/Used July 1 in July in July $3,000 $6,000 $4,900 8,000 Ending Balance July 31 $ ? 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.) Calculate the costs of completed jobs 101 and 111 as at July 31. Job 101 Job 111 Completed job costs Calculate the account balances in Direct Materials Inventory as at July 31. Direct Materials Inventory Calculate the Work in Process Inventory as at July 31. Work in Process Inventory Calculate the Finished Goods Inventory as at July 31. Finished Goods Inventory