Question: The information below was taken from the job cost sheets of Bates Company. During July, jobs no. 103 and 104 were completed, and jobs no.

The information below was taken from the job cost sheets of Bates Company.

The information below was taken from the job cost sheets

During July, jobs no. 103 and 104 were completed, and jobs no. 101, 102, and 104 were delivered to customers. Jobs no. 105 and 106 are still in process at July 31. From this information, compute the following:
a. The work in process inventory at June 30.
b. The finished goods inventory at June 30.
c. The cost of goods sold during July.
d. The work in process inventory at July 31.
e. The finished goods inventory at July31.

Manufacturing Costs as of June 30 Job Number 101 102 103 104 105 106 Manufacturing Costs in July $4,200 3,240 900 $2,000 4,000 6,000 3,700 2,250

Step by Step Solution

3.50 Rating (150 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

a 3150 900 2250 jobs no 103 and 104 ... View full answer

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

Document Format (1 attachment)

Word file Icon

290-B-M-A-J-O-C (1123).docx

120 KBs Word File

Students Have Also Explored These Related Managerial Accounting Questions!