Derry Company uses job-order costing. At the end of the month, the following information was gathered: The
Question:
The beginning balance of Finished Goods was $300, consisting of Job 300 which was not sold by the end of the month.
Required:
1. Calculate the balance in Work in Process at the end of the month.
2. Calculate the balance in Finished Goods at the end of the month.
3. Calculate Cost of Goods Sold for the month.
Transcribed Image Text:
Job # 301 302 303 304 305 306 307 308 309 310 Total Cost Complete? Sold? No Yes No $1,600 1,240 780 2300 4,150 350 710 620 1,200 515 es es No 0 0 No 0 No es No es No No No 0 No Yes No No 0 0 No 0
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1 Balance in Work in Process all incomplete jobs Job 303 780 Job 306 ...View the full answer
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Hello Everyone, My name is Shakir Husain. Presently ,I am working as a finance specialist in a Telecommunication organisation. I have Over Four years of Teaching experience at college level to teach under graduate and Post Graduate classes. I taught at school level as well. In addition to, I had my own coaching centre to teach school and college level students. As a teacher, as far as I concern, teaching must be student centered. While teaching, I always try to start from Basic level or concepts of the chapter and connect with previous knowledge of the students and to show its use in their practical experience so that each and everything of the chapter maybe cleared to all students.Patience is one of the most important Part in teaching profession that I try to use it and keep in mind weaker sections of the student. I always try to apply new ways of teaching as time requires.
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Related Book For
Cornerstones of Managerial Accounting
ISBN: 978-1305103962
6th edition
Authors: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
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