Wildhorse Company begins the month of March with $22,100 of Work in Process Inventory from Job 324. Information from job cost sheets shows the following additional costs assigned during March, April, and May of 2022: Manufacturing Costs Assigned Job No. March April May 324 $33,800 325 26,000 $36,400 $19,500 326 53,300 14,300 327 20,800 50,700 328 44,200 66,300 Job 324 was completed in March. Jobs 325 and 327 were completed in May, and Job 326 was completed in April. Jobs are sold during the month after completion. Total revenue for jobs sold during the 3-month period is $188,500. Calculate the balance of the Work in Process Inventory accounts at the end of May. Work in Process Inventory Accounts Job 328 $ Calculate Finished Goods Inventory accounts at the end of May. Finished Goods Inventory Accounts Job 325 $ Job 327 $
Wildhorse Company begins the month of March with $22,100 of Work in Process Inventory from Job 324. Information from job cost sheets shows the following additional costs assigned during March, April, and May of 2022: Manufacturing Costs Assigned Job No. March April May 324 $33,800 325 26,000 $36,400 $19,500 326 53,300 14,300 327 20,800 50,700 328 44,200 66,300 Job 324 was completed in March. Jobs 325 and 327 were completed in May, and Job 326 was completed in April. Jobs are sold during the month after completion. Total revenue for jobs sold during the 3-month period is $188,500. Calculate the balance of the Work in Process Inventory accounts at the end of May. Work in Process Inventory Accounts Job 328 $ Calculate Finished Goods Inventory accounts at the end of May. Finished Goods Inventory Accounts Job 325 $ Job 327 $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Wildhorse Company begins the month of March with $22,100 of Work in Process Inventory from Job 324. Information from
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Job No.
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March
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April
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May
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324
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$33,800
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325
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26,000
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$36,400
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$19,500 | ||||
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326
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53,300
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14,300
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327
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20,800
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50,700 | |||||
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328
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44,200
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66,300 |
Job 324 was completed in March. Jobs 325 and 327 were completed in May, and Job 326 was completed in April. Jobs are sold during the month after completion. Total revenue for jobs sold during the 3-month period is $188,500.
Calculate the balance of the Work in Process Inventory accounts at the end of May.
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Work in Process Inventory Accounts
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Job 328
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$
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Calculate Finished Goods Inventory accounts at the end of May.
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Finished Goods Inventory Accounts
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Job 325
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$
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Job 327
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$
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