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The Dolton Company uses a job-order costing system. The following data were recorded for July: Added Job Number July 1 WIP Inventory During July
The Dolton Company uses a job-order costing system. The following data were recorded for July: Added Job Number July 1 WIP Inventory During July Direct Materials Added During July Direct Labor 475 $1500 $500 $300 476 $1000 $700 $900 477 $900 $1000 $1500 478 $700 $1200 $2000 Overhead is applied to jobs at the rate of 80% of direct materials cost. Jobs 475, 477, and 478 were completed during July and transferred to finished goods. Jobs 475 and 478 have been delivered to the customer. Calculate Dolton's Work in Process inventory balance on July 31. (Show all work)
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