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Tomlin Company begins operations on April 1. Information from job cost sheets shows the following. Manufacturing Costs Assigned Job Number April May June Month Completed
Tomlin 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 $ 5,216 $ 4,400 May 11 6,132 3,916 $ 3,000 June 12 1,216 April 13 4,716 4,500 June 14 3,932 3,616 Not complete Each job was sold for 25% above its cost in the month following completion. (a) What is the balance in Work in Process Inventory at the end of each month? (b) What is the balance in Finished Goods Inventory at the end of each month? (c) What is the gross profit for May, June, and July? (Round all answers to 0 decimal places.) May $ June $ July $
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