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Clement uses a job order costing system. We know this because Clement's costing records show costs being accumulated for each job. Requirement 2. Use the dates in the table to identify the status of each job at October 31 and November 30. Compute Clement's account balances at October 31 for Work-in-Process Compute, by job, account balances at November 30 for Work-in-Process Inventory, Finished Goods Inventory, and Cost of Goods Sold. (If an input field is not used in the schedule, lea Prepare the October schedule first, followed by the November schedule. O Data Table Clement Manufacturing Computation of Work-in-Process Inventory, Finished Goods Inventory, and Cost of Goods Sold Date For October and November

Clement uses a job order costing system. We know this because Clement's costing records show costs being accumulated for each job. Requirement 2. Use the dates in the table to identify the status of each job at October 31 and November 30. Compute Clement's account balances at October 31 for Work-in-Process Compute, by job, account balances at November 30 for Work-in-Process Inventory, Finished Goods Inventory, and Cost of Goods Sold. (If an input field is not used in the schedule, lea Prepare the October schedule first, followed by the November schedule. O Data Table Clement Manufacturing Computation of Work-in-Process Inventory, Finished Goods Inventory, and Cost of Goods Sold Date For October and November

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question 6, part 2. 

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Clement Manufacturing makes carrying cases for portable electronic devices. Its costing records yield the following information: E (Click the icon to view the costing records.) Read the requirements. Clement uses a job order costing system. We know this because Clement's costing records show costs being accumulated for each job. Requirement 2. Use the dates in the table to identify the status of each job at October 31 and November 30. Compute Clement's account balances at October 31 for Work-in-Process Inventory, Finished Goods Inventory, and Cost of Goods Sold. Compute, by job, account balances at November 30 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 October schedule first, followed by the November schedule. 1 Data Table Clement Manufacturing Computation of Work-in-Process Inventory, Finished Goods Inventory, and Cost of Goods Sold Date For October and November Total Cost of Goods Sold Manufacturing Total Cost of Job Costs Added in Date Work-in-Process Inventory Finished Goods Inventory Job No. Started Finished Sold at October 31 November Job Cost Job Cost Job Cost Job No. 1 10/03 10/12 10/13 $ 1,300 October 31: Job No. 2 10/03 10/30 11/01 1,400 Job No. 3 10/17 11/24 11/27 1,000 $ 900 Total Total Total Job No. 4 10/29 11/29 12/03 1,200 1,200 Job No. 5 11/08 11/12 11/14 650 Choose from any list or enter any number in the input fields and then click Check Answer. Job No. 6 11/23 12/06 12/09 500
Transcribed Image Text:Clement Manufacturing makes carrying cases for portable electronic devices. Its costing records yield the following information: E (Click the icon to view the costing records.) Read the requirements. Clement uses a job order costing system. We know this because Clement's costing records show costs being accumulated for each job. Requirement 2. Use the dates in the table to identify the status of each job at October 31 and November 30. Compute Clement's account balances at October 31 for Work-in-Process Inventory, Finished Goods Inventory, and Cost of Goods Sold. Compute, by job, account balances at November 30 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 October schedule first, followed by the November schedule. 1 Data Table Clement Manufacturing Computation of Work-in-Process Inventory, Finished Goods Inventory, and Cost of Goods Sold Date For October and November Total Cost of Goods Sold Manufacturing Total Cost of Job Costs Added in Date Work-in-Process Inventory Finished Goods Inventory Job No. Started Finished Sold at October 31 November Job Cost Job Cost Job Cost Job No. 1 10/03 10/12 10/13 $ 1,300 October 31: Job No. 2 10/03 10/30 11/01 1,400 Job No. 3 10/17 11/24 11/27 1,000 $ 900 Total Total Total Job No. 4 10/29 11/29 12/03 1,200 1,200 Job No. 5 11/08 11/12 11/14 650 Choose from any list or enter any number in the input fields and then click Check Answer. Job No. 6 11/23 12/06 12/09 500
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