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

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?
Work in Process Inventory
April 30..............................$______
May 31...............................$______
June 30...............................$______
What is the balance in Finished Goods Inventory at the end of each month?
Finished Goods Inventory
April 30..............................$______
May 31...............................$______
June 30...............................$______
What is the gross profit for May, June, and July?
Gross Profit
April 30..............................$______
May 31...............................$______
June 30...............................$______

Transcribed Image Text:

Manufacturing Costs Assigned Job Number 10 Month Completed Mav June May 4,600 4,500 S3,400 June April 6,500 5,700 June $7,000 S5,100 12 13 14 1,800 6,100 4,500 Not complete