Horngren's Financial & Managerial Accounting: The Managerial Chapters, 8th Edition.E-M:2-19 Accounting for job costs Brook Trailers’ job cost records yielded the following information: Job No.DateTotal Cost of Job at July 31 StartedFinishedSold 121-Jun16-Jul17-Jul$ 3,100 229-Jun21-Jul26-Jul 13,000 33-Jul11-Aug13-Aug 6,900 47-Jul29-Jul1-Aug 4,400 Use the dates in the table to identify the status of each job. Compute the following balances for Brook Trailers:a. Work-in-Process Inventory at July 31 b. Finished Goods Inventory at July 31 c. Cost of Goods Sold for July c. COGS $16,100

Step 1: Identify Job Status at July 31Jobs Completed Before July 31 (Moved to Finished Goods…

Answered: Horngren's Financial & Managerial…

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter2: Job Order Costing

Section: Chapter Questions

Problem 1E: Transactions in a job order cost system Five selected transactions for the current month are...

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Horngren's Financial & Managerial Accounting: The Managerial Chapters, 8th Edition.

E-M:2-19 Accounting for job costs

Brook Trailers’ job cost records yielded the following information:

Job No.	Date	Total Cost of Job at July 31
Started	Finished	Sold
1	21-Jun	16-Jul	17-Jul	$ 3,100
2	29-Jun	21-Jul	26-Jul	13,000
3	3-Jul	11-Aug	13-Aug	6,900
4	7-Jul	29-Jul	1-Aug	4,400

Use the dates in the table to identify the status of each job. Compute the following balances for Brook Trailers:
a. Work-in-Process Inventory at July 31

b. Finished Goods Inventory at July 31

c. Cost of Goods Sold for July

c. COGS $16,100