Question: Requirements 1. Which type of costing system is Stratton using? What piece of data did base your answer on? 2. Use the dates in the

 Requirements 1. Which type of costing system is Stratton using? What
piece of data did base your answer on? 2. Use the dates
in the table to identify the status of each job at September

Requirements 1. Which type of costing system is Stratton using? What piece of data did base your answer on? 2. Use the dates in the table to identify the status of each job at September 30 and October 31. Compute Stratton's account balances at September 30 for Work-in-Process Inventory, Finished Goods Inventory, and Cost of Goods Sold. Compute, by job, account balances at October 31 for Work-in-Process Inventory, Finished Goods Inventory, and Cost of Goods Sold. 3. Prepare journal entries to record the transfer of completed jobs from Work-in-Process Inventory to Finished Goods Inventory for September and October. 4. Record the sale of Job 3 for $2,400 on account. Stratton Manufacturing makes carrying cases for portable electronic devices Its costing records vield the following information: (Cick the icon to view the costing records.) Read the farirements Requirement 2. Use the dates in the table to identify the status of each job at September 30 and 0 ctober 31 Compute Stratton's account balances at September 30 for Work-in-Process Inventory, Finished Goods Inventory, and Cost of Goods Sold. Compute, by job, account balances at October 31 for Work-in-Process inventory, Finished Goods Inventory, and Cost of Goods Sold. (If an input field is not used in the schedule, leave the input field empty; do not select a label or enter a zero.) Prepare the September schedule first, followed by the October schedule. Stratton Manufacturing Computation of Work-in-Process inventory, Finished Goods Inventory, and Cost of Goods Sold Data table

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!