Crane Company begins operations on April 1. Information from job cost sheets shows the following. Job Number April $4,260 10 11 12 13 14 3,360 980 Manufacturing Costs Assigned May $3,620 3,200 $1,640 3,850 4,840 June 3,690 Month Completed May June April June 2,950 Not complete Job 12 was completed in April Job 10 was completed in May Jobs 11 and 13 were completed in June Fach job was sold for 25% above

FINANCIAL ACCOUNTING
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Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Crane Company begins operations on April 1. Information from job cost sheets shows the following.
Job
Number April
10
11
12
13
14
May
$4,260 $3,620
3,200
3,360
Manufacturing Costs Assigned
980
3,850
4,840
June
$1,640
3,690
Month
Completed
May
June
April
June
2,950 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 25% above
its cost in the month following completion.
Transcribed Image Text:Crane Company begins operations on April 1. Information from job cost sheets shows the following. Job Number April 10 11 12 13 14 May $4,260 $3,620 3,200 3,360 Manufacturing Costs Assigned 980 3,850 4,840 June $1,640 3,690 Month Completed May June April June 2,950 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 25% above its cost in the month following completion.
What is the balance in Finished Goods Inventory at the end of each month?
April 30
Finished Goods Inventory
May 31 $
June 30
LA
Transcribed Image Text:What is the balance in Finished Goods Inventory at the end of each month? April 30 Finished Goods Inventory May 31 $ June 30 LA
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