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Tierney Company begins operations on April 1. Information from job cost sheets shows the following. Manufacturing Costs Assigned Job Number April May June Month Completed

Tierney Company begins operations on April 1. Information from job cost sheets shows the following.

Manufacturing Costs Assigned

Job Number

April

May

June

Month Completed

10

$7,100

$5,500

May

11

4,700

5,200

$3,700

June

12

1,600

April

13

5,800

5,700

June

14

6,000

3,800

Not complete

Job 12 was completed in April. Job 10 was completed in May. Jobs 11 and 13 were completed in June. Each job was sold for 25% above its cost in the month following completion.

What is the balance in Work in Process Inventory at the end of each month?

April 30

$

May 31

$

June 30

$

What is the balance in Finished Goods Inventory at the end of each month?

April 30

$

May 31

$

June 30

$

What is the gross profit for May, June, and July?

May

$

June

$

July 30

$

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