The job order cost sheets for Nashville Inc., show the following information about special orders for June

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The job order cost sheets for Nashville Inc., show the following information about special orders for June and July of the current year:
The job order cost sheets for Nashville Inc., show the

The company prices its jobs to make a 50 percent gross profit on sales. Operating expenses for July totaled $7,500, and the company's income tax rate is 15 percent of net income before income taxes.
INSTRUCTIONS
1. From this data, compute the following:
a. Work in Process Inventory, July 1
b. Finished Goods Inventory, July 1
c. Cost of Goods Sold for July
d. Work in Process Inventory, July 31
e. Finished Goods Inventory, July 31
f. Sales for July
2. Prepare a condensed income statement for Nashville Inc., for the month of July.

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College Accounting Chapters 1-30

ISBN: 978-0077862398

14th edition

Authors: John Price, M. David Haddock, Michael Farina

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