Question 2, part 2 Root Trailers' job cost records yielded the following information:E (Click the icon to view the job cost information.)Use the dates above to identify the status of each job. Compute the following balances for Root:a. Work-in-Process Inventory at July 31b. Finished Goods Inventory at July 31c. Cost of Goods Sold for JulyJobDateTotal Cost of JobStatus of Job atData TableNo.StartedFinishedSoldat July 31July 311June 21July 16July 17$3,400Sold2June 29July 21July 2613,700SoldDate3July 3August 11August 136,000Work in processTotal Cost of JobJob No.StartedFinishedSoldat July 314.July 7July 29August 14,400Finished goodsJob No. 1June 21July 16July 172$3,400a. Compute Work-in-Process Inventory at July 31. (If an input field is not used in the table, leave the inpuJob No. 2June 29July 21July 2613,700JobCostJob No. 3July 3August 11August 136,000Job No. 4July 7July 29August 14,400TotalPrintDone

Job costing is widely used to determine the cost and revenue from job performed and that enables…

Root Trailers' job cost records yielded the following information: E (Click the icon to view the job cost information.) Use the dates above to identify the status of each job. Compute the following balances for Root: a. Work-in-Process Inventory at July 31 b. Finished Goods Inventory at July 31 c. Cost of Goods Sold for July Job Date Total Cost of Job Status of Job at Data Table No. Started Finished Sold at July 31 July 31 June 21 July 16 July 17 2$ 3,400 Sold 2 June 29 July 21 July 26 13,700 Sold Date 3 July 3 August 11 August 13 6,000 Work in process Total Cost of Job Job No. Started Finished Sold at July 31 4 July 7 July 29 August 1 4,400 Finished goods Job No. 1 June 21 July 16 July 17 3,400 a. Compute Work-in-Process Inventory at July 31. (If an input field is not used in the table, leave the inpu Job No. 2 June 29 July 21 July 26 13,700 Job Cost Job No. 3 July 3 August 11 August 13 6,000 Job No. 4 July 7 July 29 August 1 4,400 Total Print Done

Root Trailers' job cost records yielded the following information: E (Click the icon to view the job cost information.) Use the dates above to identify the status of each job. Compute the following balances for Root: a. Work-in-Process Inventory at July 31 b. Finished Goods Inventory at July 31 c. Cost of Goods Sold for July Job Date Total Cost of Job Status of Job at Data Table No. Started Finished Sold at July 31 July 31 June 21 July 16 July 17 2$ 3,400 Sold 2 June 29 July 21 July 26 13,700 Sold Date 3 July 3 August 11 August 13 6,000 Work in process Total Cost of Job Job No. Started Finished Sold at July 31 4 July 7 July 29 August 1 4,400 Finished goods Job No. 1 June 21 July 16 July 17 3,400 a. Compute Work-in-Process Inventory at July 31. (If an input field is not used in the table, leave the inpu Job No. 2 June 29 July 21 July 26 13,700 Job Cost Job No. 3 July 3 August 11 August 13 6,000 Job No. 4 July 7 July 29 August 1 4,400 Total Print Done

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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