Problem 2-23 (Algo) Calculating Ending Inventories and Cost of Goods Sold [LO2-5] Techuxia Corporation worked on four jobs during October: Job A256, Job A257, Job A258, and Job A260. At the end of October, the job cost sheets for these jobs contained the following data: Beginning balance Charged to the jobs during October: Direct materials Direct labor Manufacturing overhead applied Units completed Units in process at the end of October Units sold during October Job A256 Job A257 $ 2,000 $ 900 $ 3,400 $ 1,200 $ 2,000 1. Cost of goods sold for October 2. Finished goods inventory at the end of October 3. Work in process inventory at the end of October 100 0 80 $ 4,300 $ 1,800 $ 2,300 0 154 0 Job A258 $0 $ 2,200 $ 1,000 $ 1,300 600 0 120 Job A260 $0 $ 4,300 $ 800 $ 1,400 0 124 0 Jobs A256 and A258 were completed during October. The other two jobs were incomplete at the end of October. There was no finished goods inventory on October 1. The company's total manufacturing overhead applied equals its total actual manufacturing overhead. Required: 1. What is the cost of goods sold for October? Note: Round intermediate calculations to 2 decimal places and final answer to nearest dollar amount. 2. What is the total value of the finished goods inventory at the end of October? Note: Round intermediate calculations to 2 decimal places and final answer to nearest dollar amount. 3. What is the total value of the work in process inventory at the end of October?
Problem 2-23 (Algo) Calculating Ending Inventories and Cost of Goods Sold [LO2-5] Techuxia Corporation worked on four jobs during October: Job A256, Job A257, Job A258, and Job A260. At the end of October, the job cost sheets for these jobs contained the following data: Beginning balance Charged to the jobs during October: Direct materials Direct labor Manufacturing overhead applied Units completed Units in process at the end of October Units sold during October Job A256 Job A257 $ 2,000 $ 900 $ 3,400 $ 1,200 $ 2,000 1. Cost of goods sold for October 2. Finished goods inventory at the end of October 3. Work in process inventory at the end of October 100 0 80 $ 4,300 $ 1,800 $ 2,300 0 154 0 Job A258 $0 $ 2,200 $ 1,000 $ 1,300 600 0 120 Job A260 $0 $ 4,300 $ 800 $ 1,400 0 124 0 Jobs A256 and A258 were completed during October. The other two jobs were incomplete at the end of October. There was no finished goods inventory on October 1. The company's total manufacturing overhead applied equals its total actual manufacturing overhead. Required: 1. What is the cost of goods sold for October? Note: Round intermediate calculations to 2 decimal places and final answer to nearest dollar amount. 2. What is the total value of the finished goods inventory at the end of October? Note: Round intermediate calculations to 2 decimal places and final answer to nearest dollar amount. 3. What is the total value of the work in process inventory at the end of October?
Chapter1: Financial Statements And Business Decisions
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![Problem 2-23 (Algo) Calculating Ending Inventories and Cost of Goods Sold [LO2-5]
Techuxia Corporation worked on four jobs during October: Job A256, Job A257, Job A258, and Job A260. At the end of October, the
job cost sheets for these jobs contained the following data:
Beginning balance.
Charged to the jobs during October:
Direct materials
Direct labor
Manufacturing overhead applied
Units completed
Units in process at the end of October
Units sold during October
Job A256 Job A257 Job A258
$2,000 $ 900
$0
$ 3,400
$ 1,200
$ 2,000
1. Cost of goods sold for October
2. Finished goods inventory at the end of October
3. Work in process inventory at the end of October
100
0
80
$ 4,300
$ 1,800
$ 2,300
0
154
0
$ 2,200
$ 1,000
$ 1,300
600
0
120
Job A260
$0
$ 4,300
$ 800
$1,400
0
124
0
Jobs A256 and A258 were completed during October. The other two jobs were incomplete at the end of October. There was no
finished goods inventory on October 1. The company's total manufacturing overhead applied equals its total actual manufacturing
overhead.
Required:
1. What is the cost of goods sold for October?
Note: Round intermediate calculations to 2 decimal places and final answer to nearest dollar amount.
2. What is the total value of the finished goods inventory at the end of October?
Note: Round intermediate calculations to 2 decimal places and final answer to nearest dollar amount.
3. What is the total value of the work in process inventory at the end of October?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd240bb86-f2ee-4b1c-ba88-25d08a450fb4%2Ffbf292af-d812-4d88-ad7b-5ae014c8e8a4%2Fnxmiims_processed.png&w=3840&q=75)
Transcribed Image Text:Problem 2-23 (Algo) Calculating Ending Inventories and Cost of Goods Sold [LO2-5]
Techuxia Corporation worked on four jobs during October: Job A256, Job A257, Job A258, and Job A260. At the end of October, the
job cost sheets for these jobs contained the following data:
Beginning balance.
Charged to the jobs during October:
Direct materials
Direct labor
Manufacturing overhead applied
Units completed
Units in process at the end of October
Units sold during October
Job A256 Job A257 Job A258
$2,000 $ 900
$0
$ 3,400
$ 1,200
$ 2,000
1. Cost of goods sold for October
2. Finished goods inventory at the end of October
3. Work in process inventory at the end of October
100
0
80
$ 4,300
$ 1,800
$ 2,300
0
154
0
$ 2,200
$ 1,000
$ 1,300
600
0
120
Job A260
$0
$ 4,300
$ 800
$1,400
0
124
0
Jobs A256 and A258 were completed during October. The other two jobs were incomplete at the end of October. There was no
finished goods inventory on October 1. The company's total manufacturing overhead applied equals its total actual manufacturing
overhead.
Required:
1. What is the cost of goods sold for October?
Note: Round intermediate calculations to 2 decimal places and final answer to nearest dollar amount.
2. What is the total value of the finished goods inventory at the end of October?
Note: Round intermediate calculations to 2 decimal places and final answer to nearest dollar amount.
3. What is the total value of the work in process inventory at the end of October?
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