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MCS,MBA(IT), Pursuing PHD Devry University Sep-2004 - Aug-2010
Assistant Financial Analyst NatSteel Holdings Pte Ltd Aug-2007 - Jul-2017
Laubitz Company begins operations on April 1. Information from job cost sheets shows the following:
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Manufacturing Costs Assigned
Job Number
April
May
June
Month Completed
10
$6,500
$4,400
11
4,100
3,900
$3,000
12
1,200
13
4,700
3,400
14
5,400
3,600
Not complete
Each job was sold for 25 % above its cost in the month following completion.
IE
Calculate the balance in Work in Process Inventory at the end of each month.
Work in Process Inventory
April 30
$?
May 31
June 30
Calculate the balance in Finished Goods Inventory at the end of each month.Â
Finished Goods Inventory
Calculate the gross profit for May, June, and July. (Round answer to the nearest whole dollar, e.g. 5,275.)
Month
Gross Profit
July
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