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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 $6,700 $5,900 May 11 5,800 4,000 $3,000 June 12 1,500 April 13 6,700 5,200 June 14 6,800 4,700 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. (a) Your answer is correct. What is the balance in Work in Process Inventory at the end of each month? Work in Process Inventory April 30 $ 12500 May 31 $ 23300 June 30 $ 11500 Work in Process Inventory April 30 $ 12500 May 31 $ 23300 June 30 $ 11500 eTextbook and Media (b) What is the balance in Finished Goods Inventory at the end of each month? Finished Goods Inventory April 30 $ May 31 $ June 30 $
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