On August 1 , Cairle Company s work - in - process inventory consisted of three jobs
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Question:
On August Cairle Companys workinprocess inventory consisted of three jobs with the following costs:
Job Job Job
Direct materials $ $ $
Direct labor
Applied overhead
During August, four more jobs were started. Information on costs added to the seven jobs during the month is as follows:
Job Job Job Job Job Job Job
Direct materials $ $ $ $ $ $ $
Direct labor
Before the end of August, Jobs and were completed. On August Jobs and were sold.
Cairles selling and administrative expenses for August were $ Assume that Cairle prices its jobs at cost plus percent.
Required:
Prepare an income statement for Cairle Company for August.
Cairle Company
Income Statement
For the Month of August
Sales blank
Cost of goods sold blank
Gross margin blank
Selling and administrative expenses
Operating income blank
Related Book For
Cornerstones of Cost Management
ISBN: 978-1285751788
3rd edition
Authors: Don R. Hansen, Maryanne M. Mowen
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