Analyzing cost data, recording completion and sales of jobsSutherland Manufacturing makes carrying cases for portable electronic devices. It’s costing records yield the following information:RequirementsWhich type of costing system is Sutherland using? What piece of data did you base your answer on?Use the dates in the table to identify the status of each job at October 31 and November 30. Compute Sutherland’s account balances at October 31 for Work-in-Process Inventory, Finished Goods Inventory, and Lost of Goods Sold. Compute, by Job, account balances at November 30 for Work-in-Process Inventory, Finished Goods Inventory, and Cost of Goods Sold. TotalTotal Costof Job atOctober 31ManufacturingCosts Added inNovemberDateJobNo.StartedFinishedSold10/0310/1210/13$ 1,400210/0310/3011/011,90010/1711/2411/271,000$ 1,10010/2911/2912/036001,40011/0811/1211/1475011/2312/0612/091,100

Requirement 1: Identify the type of costing system used by Manufacturing S and the basis of…

Answered: Total Total Cost of Job at October 31…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Analyzing cost data, recording completion and sales of jobs

Sutherland Manufacturing makes carrying cases for portable electronic devices. It’s costing records yield the following information:

Requirements

Which type of costing system is Sutherland using? What piece of data did you base your answer on?
Use the dates in the table to identify the status of each job at October 31 and November 30. Compute Sutherland’s account balances at October 31 for Work-in-Process Inventory, Finished Goods Inventory, and Lost of Goods Sold. Compute, by Job, account balances at November 30 for Work-in-Process Inventory, Finished Goods Inventory, and Cost of Goods Sold.

Total
Total Cost
of Job at
October 31
Manufacturing
Costs Added in
November
Date
Job
No.
Started
Finished
Sold
10/03
10/12
10/13
$ 1,400
2
10/03
10/30
11/01
1,900
10/17
11/24
11/27
1,000
$ 1,100
10/29
11/29
12/03
600
1,400
11/08
11/12
11/14
750
11/23
12/06
12/09
1,100

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