The information below was taken from the job cost sheets of Igmund Manufacturing. Manufacturing Costs as of June 30 Manufacturing Costs in July Job Number $ 4,200 3,200 101 102 $ 2,000 4,500 6,100 3,400 103 980 104 2,100 105 106 During July, jobs no. 103 and 104 were completed, and jobs no. 101, 102, and 104 were delivered to customers. Jobs no. 105 and 106 are still in process at July 31. a. Compute the work in process inventory at June 30. b. Compute the finished goods inventory at June 30. c. Compute the cost of goods sold during July. d. Compute the work in process inventory at July 31. e. Compute the finished goods inventory at July 31. a. Work in process inventory June 30 b. Finished goods inventory June 30 c. Cost of goods sold d. Work in process inventory July 31 e. Finished goods inventory July 31

The information below was taken from the job cost sheets of Igmund Manufacturing. Manufacturing Costs as of June 30 Manufacturing Costs in July Job Number $ 4,200 3,200 101 102 $ 2,000 4,500 6,100 3,400 103 980 104 2,100 105 106 During July, jobs no. 103 and 104 were completed, and jobs no. 101, 102, and 104 were delivered to customers. Jobs no. 105 and 106 are still in process at July 31. a. Compute the work in process inventory at June 30. b. Compute the finished goods inventory at June 30. c. Compute the cost of goods sold during July. d. Compute the work in process inventory at July 31. e. Compute the finished goods inventory at July 31. a. Work in process inventory June 30 b. Finished goods inventory June 30 c. Cost of goods sold d. Work in process inventory July 31 e. Finished goods inventory July 31

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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