Job cost sheets show the following information: JOB JANUARY FEBRUARY MARCH COMPLETED SOLD AA2 $2,500 $1,200 FEBRUARY NOT SOLD AA4 4838 JANUARY FEBRUARY AA5 3250 FEBRUARY MARCH AA3 3409 $2,319 APRIL NOT SOLD TOTAL 7338 7859 $2,319 Required: a) Which job(s) are still in process at the end of January, and what is the cost of this job(s)? b) Which job(s) were completed at the end of February, and what is the cost of this completed job(s)? c) What are the balances in the work in process inventory, finished goods inventory, and cost of goods sold for March?
Job cost sheets show the following information: JOB JANUARY FEBRUARY MARCH COMPLETED SOLD AA2 $2,500 $1,200 FEBRUARY NOT SOLD AA4 4838 JANUARY FEBRUARY AA5 3250 FEBRUARY MARCH AA3 3409 $2,319 APRIL NOT SOLD TOTAL 7338 7859 $2,319 Required: a) Which job(s) are still in process at the end of January, and what is the cost of this job(s)? b) Which job(s) were completed at the end of February, and what is the cost of this completed job(s)? c) What are the balances in the work in process inventory, finished goods inventory, and cost of goods sold for March?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Job cost sheets show the following information:
| JOB | JANUARY | FEBRUARY | MARCH | COMPLETED | SOLD |
| AA2 | $2,500 | $1,200 | FEBRUARY | NOT SOLD | |
| AA4 | 4838 | JANUARY | FEBRUARY | ||
| AA5 | 3250 | FEBRUARY | MARCH | ||
| AA3 | 3409 | $2,319 | APRIL | NOT SOLD | |
| TOTAL | 7338 | 7859 | $2,319 | ||
Required:
a) Which job(s) are still in process at the end of January, and what is the cost of this job(s)?
b) Which job(s) were completed at the end of February, and what is the cost of this completed job(s)?
c) What are the balances in the work in process inventory, finished goods inventory, and cost of goods sold for March?
d) How does
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