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Sardin Company begins the month of March with $17,000 of work in process costs from Job 324. Information from job cost sheets shows the following
Sardin Company begins the month of March with $17,000 of work in process costs from Job 324. Information from job cost sheets shows the following additional costs assigned during March, April, and May of 2013: Job 324 was completed in March. Jobs 325 and 327 were completed in May, and Job 326 was completed in April. Jobs are sold during the month after completion. Total revenue for jobs sold during the 3-month period is $145,000. Calculate the balances of the work in process. Calculate finished goods inventory accounts at the end of May.
Sardin Company begins the month of March with $17,000 of work in process costs from Job 324. Information from job cost sheets shows the following additional costs assigned during March, Apri, and May of 2013: Manufacturing Costs Assigne April Job No. March Ma 324 $26,000 325 326 327 328 20,000 $28,000 $15,000 41,000 11,000 16,000 34,000 $29,000 51,000 Job 324 was completed in March. Jobs 325 and 327 were completed in May, and Job 326 was completed in April. Jobs are sold during the month after completion. Total revenue for jobs sold during the 3-month period is $145,000 Calculate the balances of the work in process Work in process Job 328 85000 Calculate finished goods inventory accounts at the end of May Finish Job 325 63000 Job 327 55000Step by Step Solution
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