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Questions: 1. What is the ending work in process inventory? 2. What is the cost of goods manufactured for June? The Bus Company uses a
Questions:
1. What is the ending work in process inventory?
2. What is the cost of goods manufactured for June?
The Bus Company uses a job-order costing system. The following data were recorded for June: Costs Added During June Job # WIP (June 1) DM DL 1 $1,000 $200 $ 300 2. $1,400 $300 $ 250 3 $ 500 $1,500 $150 4 $ 750 $4,000 $400 The direct labour wage rate is $10 per hour. Overhead is applied at the rate of $5 per direct labour hour. Jobs 1, 2, and 3 have been completed and transferred to finished goods. Job 2 has been delivered to the customer. Job 4 still in process at the end of the period. What is the ending Work in Process inventoryStep by Step Solution
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