Expedition Company worked on five jobs during May: Jobs A10, B20, C30, D40, and E50. At the end of May, the job cost sheets for these five jobs contained the following data: Job D40 Job E50 Job A10 $ 93 Beginning balance. Job B20 $ 110 Job C30 $ 174 $ 126 $ 195 Charged to the jobs during May: Direct materials. $ 130 $ 110 $ 160 $ 120 $ 240 Direct labor $ 120 $ 90 $ 110 $ 137 $ 140 $ 170 Manufacturing overhead applied $ 150 $ 106 $ 164 Units completed $ 205 170 140 0 60 0 Units sold during May 0 0 60 0 120 Jobs A10, C30, and E50 were completed during May. Jobs B20 and D40 were incomplete at the end of May. There was no finished goods inventory on May 1, and the company's total manufacturing overhead applied always equals its total actual manufacturing overhead. Required: 1. What is the cost of goods sold for May? 2. What is the total value of the finished goods inventory at the end of May? 3. What is the total value of the work in process inventory at the end of May? Note: Round your intermediate calculations to 2 decimal places

Expedition Company worked on five jobs during May: Jobs A10, B20, C30, D40, and E50. At the end of May, the job cost sheets for these five jobs contained the following data: Job D40 Job E50 Job A10 $ 93 Beginning balance. Job B20 $ 110 Job C30 $ 174 $ 126 $ 195 Charged to the jobs during May: Direct materials. $ 130 $ 110 $ 160 $ 120 $ 240 Direct labor $ 120 $ 90 $ 110 $ 137 $ 140 $ 170 Manufacturing overhead applied $ 150 $ 106 $ 164 Units completed $ 205 170 140 0 60 0 Units sold during May 0 0 60 0 120 Jobs A10, C30, and E50 were completed during May. Jobs B20 and D40 were incomplete at the end of May. There was no finished goods inventory on May 1, and the company's total manufacturing overhead applied always equals its total actual manufacturing overhead. Required: 1. What is the cost of goods sold for May? 2. What is the total value of the finished goods inventory at the end of May? 3. What is the total value of the work in process inventory at the end of May? Note: Round your intermediate calculations to 2 decimal places

Name: Expedition Company worked on five jobs during May: Jobs A10, B20, C30
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Description: Expedition Company worked on five jobs during May: Jobs A10, B20, C30, D40, and E50. At the end of May, the job cost sheets forthese five jobs contained the following data:Job A10$ 93Job B20$ 110Job C30$ 174Job D40$ 126Job E50$ 195Beginning balance.

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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