The Terrapin Manufacturing Company has the following job cost sheets on file. Th

Question

The Terrapin Manufacturing Company has the following job cost sheets on file. They represent jobs that have been worked on during June of the current year. This table summarizes information provided on each sheet:



Number Total Cost Incurred Status of Job

951 $ 4,200 Finished and delivered

952 $ 7,700 Unfinished
953 $ 9,300 Finished and unsold
954 $11,100 Finished and delivered

955 $ 3,000 Finished and unsold

956 $ 5,500 Finished and delivered

957 $35,000 Unfinished

958 $ 3,200 Finished and delivered

959 $ 500 Unfinished

960 $22,110 Unfinished

961 $ 7,200 Finished and unsold

962 $ 8,500 Unfinished

963 $11,200 Finished and unsold








(a) What is the cost of the goods in process inventory on June 30?

(b) What is the cost of the finished goods inventory on June 30?

(c) What is the cost of goods sold for the month of June?

Explanation / Answer

Answers: (a) $128,510 (b) $ 54,700 (c) $ 24,00

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