Maurice Tutor

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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 27 Aug 2017 My Price 8.00

Tomlin Company

Tomlin Company begins operations on April 1. Information from job cost sheets shows the following.

 

 

 

Manufacturing Costs Assigned

 

 

Job

 

 

Number

 

 

April

 

 

May

 

 

June

 

 

Month Completed

 

 

10

 

 

5,200

 

 

4,400

 

 

  

May

 

 

  

11

 

 

6,100

 

 

3,900

 

 

3,000

 

 

June

 

 

  

12

 

 

1,200

 

 

    

April

 

 

  

13

 

 

  

4,700

 

 

4,500

 

 

June

 

 

  

14

 

 

  

3,900

 

 

3,600

 

 

Not complete

 

 

 

 

 

Job 12 was completed in April. Job 10 was completed in May. Jobs 11 and 13 were completed in June. Each job was sold for 50% above its cost in the month following completion.

 

 

Instructions

 

 

1. What is the balance in Work in Process Inventory at the end of each month?

 

 

2. What is the balance in Finished Goods Inventory at the end of each month?

 

 

3. What is the gross profit for May, June, and July?

Answers

Maurice Tutor
(5)
Status NEW Posted 27 Aug 2017 07:08 AM My Price 8.00

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