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Tierney Company begins operations on April 1. Information from job cost sheets shows the following Job Number 10 11 12 13 14 April $6,700 4,300
Tierney Company begins operations on April 1. Information from job cost sheets shows the following Job Number 10 11 12 13 14 April $6,700 4,300 1,700 Manufacturing Costs Assigned Month May June Completed $5.700 May 4.900 $3,200 April 5.800 4,700 June 6,100 4,300 Not complete June 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 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 $ 11000 May 31 $ $ $ 21100 June 30 10400 Your answer is correct. What is the balance in Finished Goods Inventory at the end of each month? Finished Goods Inventory April 30 $ 1700 May 31 $ $ $ $ 12400 June 30 22900 (c) What is the gross profit for May, June, and July? Gross Profit May $ June $ July $
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