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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 Month Completed May June

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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 Month Completed May June 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 EA $ LA $ LA (b) Your answer is correct. What is the balance in Finished Goods Inventory at the Finished Goods Inventory April 30 $ 1500 May 31 $ 12600 June 30 $ 24700 LA tA (c) What is the gross profit for May, June, and July? Gross Profit May $ June $ July LA tA $

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