On August $1,$ Cairle Company's work$-$in$-$process inventory consisted of three jobs with the following costs:

Job $70$ Job $71$Job $72$ Direct materials$$1,500$$$2,000$$$850$Direct labor$1,9001,300900$Applied overhead$1,5201,040720$

During August, four more jobs were started. Information on costs added to the seven jobs during the month is as follows:

Job $70$Job $71$Job $72$Job $73$Job $74$Job $75$Job $76$Direct materials$$800$$$1,235$$$3,600$$$5,000$$$300$$$560$$$80$Direct labor$1,0001,4002,2001,800600900170$

Before the end of August, Jobs $70,72,73,$ and $75$ were completed. On August $31,$ Jobs $72$ and $75$ were sold.

Cairle's selling and administrative expenses for August were $$1,100.$ Assume that Cairle prices its jobs at cost plus $10$ percent.

Required:

Prepare an income statement for Cairle Company for August.

During August, four more jobs were started. Information on costs added to the seven jobs during the month is as follows:

Before the end of August, Jobs $70,72,73,$ and $75$ were completed. On August $31,$ Jobs $72$ and $75$ were sold.

Cairle's selling and administrative expenses for August were $\backslash (\backslash$$ $1,100\backslash ).$ Assume that Cairle prices its jobs at cost plus $10$ percent.

Required:

Prepare an income statement for Cairle Company for August.

Cairle Company

Income Statement

For the Month of August