Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Sunland Company begins the month of March with $19,720 of Work in Process Inventory from Job 324. Information from job cost sheets shows the
Sunland Company begins the month of March with $19,720 of Work in Process Inventory from Job 324. Information from job cost sheets shows the following additional costs assigned during March, April, and May of 2022: Manufacturing Costs Assigned Job No. March April May 324 $30,160 325 23,200 $32,480 $17,400 326 47,560 12,760 327 328 18,560 45,240 39,440 59.160 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 $168,200. Calculate the balance of the Work in Process Inventory accounts at the end of May. Job 328 Work in Process Inventory Accounts Calculate Finished Goods Inventory accounts at the end of May. Finished Goods Inventory Accounts Job 325 $ Job 327
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started