Tierney Company begins operations on April 1. Information from job cost sheets shows the following. Manufacturing Costs Assigned Job Number April May June Month Completed May 10 $6,800 $5,000 11 6,000 5,300 $2,600 June 12 2,300 April 13 14 5,300 5,600 June 6,600 4,600 Not complete Job 12 was completed in April. Job 10 was completed in May. Jobs 11 and 13 were completed in June. Each job was sold for 25% above its cost in the month following completion. What is the balance in the Work in Process Inventory at the end of each month?

Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter5: Product And Service Costing: Job-order System
Section: Chapter Questions
Problem 17E: During August, Skyler Company worked on three jobs. Data relating to these three jobs follow:...
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Hello tutor please answer the general accounting question

Tierney Company begins operations on April 1. Information from job cost
sheets shows the following.
Manufacturing Costs Assigned
Job Number April May June
Month Completed
May
10
$6,800 $5,000
11
6,000 5,300 $2,600 June
12
2,300
April
13
14
5,300 5,600 June
6,600 4,600 Not complete
Job 12 was completed in April. Job 10 was completed in May. Jobs 11 and 13
were completed in June. Each job was sold for 25% above its cost in the
month following completion.
What is the balance in the Work in Process Inventory at the end of each
month?
Transcribed Image Text:Tierney Company begins operations on April 1. Information from job cost sheets shows the following. Manufacturing Costs Assigned Job Number April May June Month Completed May 10 $6,800 $5,000 11 6,000 5,300 $2,600 June 12 2,300 April 13 14 5,300 5,600 June 6,600 4,600 Not complete Job 12 was completed in April. Job 10 was completed in May. Jobs 11 and 13 were completed in June. Each job was sold for 25% above its cost in the month following completion. What is the balance in the Work in Process Inventory at the end of each month?
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