Sandhill Company begins operations on July 1, 2022. Information from job cost sheets shows the following: Manufacturing Costs Assigned July August $14,400 $10,560 12,960 11,640 Job No. 100 (a) 101 102 103 104 6,000 14.160 6,960 September Your answer is incorrect. $14,400 7,200 Job 102 was completed in July. Job 100 was completed in August, and Jobs 101 and 103 were completed in September. Each job sold for 60% above its cost in the month following completion 8,400
Sandhill Company begins operations on July 1, 2022. Information from job cost sheets shows the following: Manufacturing Costs Assigned July August $14,400 $10,560 12,960 11,640 Job No. 100 (a) 101 102 103 104 6,000 14.160 6,960 September Your answer is incorrect. $14,400 7,200 Job 102 was completed in July. Job 100 was completed in August, and Jobs 101 and 103 were completed in September. Each job sold for 60% above its cost in the month following completion 8,400
Chapter1: Financial Statements And Business Decisions
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Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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Subject: accounting
![Sandhill Company begins operations on July 1, 2022. Information from job cost sheets shows the following:
Manufacturing Costs Assigned
July
August
$14,400 $10,560
12,960
6,000
Job No.
100
101
102
103
104
11,640
(a)
14,160
6,960
Your answer is incorrect.
September
$14,400
Job 102 was completed in July. Job 100 was completed in August, and Jobs 101 and 103 were completed in September. Each job was
sold for 60% above its cost in the month following completion
Balance in Work in Process Inventory
7,200
8,400
Compute the balance in Work in Process Inventory at the end of July.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc7fe5a73-45e4-4166-8ba1-50e355550dfc%2F61d14b8c-17dc-4fc6-b915-c00dadb6a65a%2F1kurphe_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Sandhill Company begins operations on July 1, 2022. Information from job cost sheets shows the following:
Manufacturing Costs Assigned
July
August
$14,400 $10,560
12,960
6,000
Job No.
100
101
102
103
104
11,640
(a)
14,160
6,960
Your answer is incorrect.
September
$14,400
Job 102 was completed in July. Job 100 was completed in August, and Jobs 101 and 103 were completed in September. Each job was
sold for 60% above its cost in the month following completion
Balance in Work in Process Inventory
7,200
8,400
Compute the balance in Work in Process Inventory at the end of July.
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