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The job order cost sheets for Nash Inc. show the following information about special orders for June and July of the current year: The company
The job order cost sheets for Nash Inc. show the following information about special orders for June and July of the current year: The company prices its jobs to make a 50 percent gross profit on sales. Operating expenses for July totaled $8,900, and the company's income tax rate is 15 percent of net income before income taxes. Required: 1. From this data, compute the following: a. Work in Process Inventory, July 1 b. Finished Goods Inventory, July 1 c. Cost of Goods Sold for July d. Work in Process Inventory, July 31 e. Finished Goods Inventory, July 31 f. Sales for July 2. Prepare a condensed income statement for Nash Inc. for the month of July. Complete this question by entering your answers in the tabs below. From this data, compute the following: Complete this question by entering your answers in the tabs below. Prepare a condensed income statement for Nash Inc. for the month of July
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