Tierney Company begins operations on April 1. Information from job cost sheets shows the following. Manufacturing...
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Tierney Company begins operations on April 1. Information from job cost sheets shows the following. Manufacturing Costs Assigned Job Number 10 11 12 13 14 April 30 May June April. 4,900 5,200 June 6,400 4,300 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. May 31 June 30 April $5,700 5,600 1,700 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 $ $ $ May $4,600 4,100 5 June What is the balance in Finished Goods Inventory at the end of each month? Finished Goods Inventory S $ Month Completed $2,200 (4₂) 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 May June July $ Click if you would like to Show Work for this question: Open Show Work Tierney Company begins operations on April 1. Information from job cost sheets shows the following. Manufacturing Costs Assigned Job Number 10 11 12 13 14 April 30 May June April. 4,900 5,200 June 6,400 4,300 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. May 31 June 30 April $5,700 5,600 1,700 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 $ $ $ May $4,600 4,100 5 June What is the balance in Finished Goods Inventory at the end of each month? Finished Goods Inventory S $ Month Completed $2,200 (4₂) 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 May June July $ Click if you would like to Show Work for this question: Open Show Work
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Manufacturing Job Number 10 11 12 13 14 Costs Assigned April ... View the full answer
Related Book For
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
Posted Date:
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