Ivanhoe Company begins operations on April 1. Information from job cost sheets shows the following. Job Number 10 11 12 13 14 (a) April 30 May 31 April $4,460 $3,820 3,520 June 30 1,020 Manufacturing Costs Assigned $ May $ $ June 3,360 $1,720 4,030 5,080 3,870 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. Work in Process Inventory Month Completed What is the balance in Work in Process Inventory at the end of each month? May June April June 3,090 Not complete

Ivanhoe Company begins operations on April 1. Information from job cost sheets shows the following. Job Number 10 11 12 13 14 (a) April 30 May 31 April $4,460 $3,820 3,520 June 30 1,020 Manufacturing Costs Assigned $ May $ $ June 3,360 $1,720 4,030 5,080 3,870 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. Work in Process Inventory Month Completed What is the balance in Work in Process Inventory at the end of each month? May June April June 3,090 Not complete

Name: Ivanhoe Company begins operations on April 1. Information from job co
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Description: Ivanhoe Company begins operations on April 1. Information from job cost sheets shows the following.JobNumber1011121314(a)April 30May 31AprilMay$4,460 $3,8203,5201,020June 30Manufacturing Costs Assigned$$3,360 $1,7204,030$June5,0803,870Job 12 was com

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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Ivanhoe Company begins operations on April 1. Information from job cost sheets shows the following: Manufacturing Costs Assigned Job Number April May June Month Completed 10 $6,700 $4,600 May 11 4,400 4,200 $3,200 June 12 1,400 April 13 4,900 3,500 June 14 5,600 3,600 Not complete Each job was sold for 25% above its cost in the month following completion. (a) Calculate the balance in Work in Process Inventory at the end of each month. Work in Process Inventory April 30 $enter a dollar amount May 31 $enter a dollar amount June 30 $enter a dollar amount
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