Warren Manufacturing began business on January 1. During its first year of operation, Warren worked on five industrial jobs and reported the following information at year - end: Job 1 Job 2 Job 3 Job 4 Job 5 $1,000 12,000 $7,500 20,000 $4,800 13,800 Direct Materials $3,700 $1,500 Direct Labor 12,700 800 Allocated Mfg. Overhead 1,500 6,000 2,400 7,100 200 Not Oct 15 Not sold Job completed: Jun 30 Sep 1 Sep 12 $39,000 Nov 1 completed Not sold Job sold: Jul 10 N/A Revenues: $25,000 N/A N/A N/A What was the balance in Finished Goods Inventory at year - end? O A. $44,500 O B. $35,000 OC. $21,000 O D. $23,500
Warren Manufacturing began business on January 1. During its first year of operation, Warren worked on five industrial jobs and reported the following information at year - end: Job 1 Job 2 Job 3 Job 4 Job 5 $1,000 12,000 $7,500 20,000 $4,800 13,800 Direct Materials $3,700 $1,500 Direct Labor 12,700 800 Allocated Mfg. Overhead 1,500 6,000 2,400 7,100 200 Not Oct 15 Not sold Job completed: Jun 30 Sep 1 Sep 12 $39,000 Nov 1 completed Not sold Job sold: Jul 10 N/A Revenues: $25,000 N/A N/A N/A What was the balance in Finished Goods Inventory at year - end? O A. $44,500 O B. $35,000 OC. $21,000 O D. $23,500
Chapter4: Job Order Costing
Section: Chapter Questions
Problem 12PA: The following data summarize the operations during the year. Prepare a journal entry for each...
Related questions
Question
Question 2
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,