Job cost sheets show the following information: 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 job costing in a service organisation differ from job costing in a manufacturing organisation?
Job cost sheets show the following information: 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 job costing in a service organisation differ from job costing in a manufacturing organisation?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Job cost sheets show the following information:
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
Transcribed Image Text:Job
January
February
March
Completed
Sold
$2,500
4,838
$1,200
February
January
February
April
AA2
Not sold
February
March
AA4
3,250
3,409
7,859
AA5
$2,319
2,319
ААЗ
Not sold
Total
7,338
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