QUESTION 23 Information based on job cost sheets shows the following information

Question

QUESTION 23 Information based on job cost sheets shows the following information Reeder Industries began operations on January 1, 2018 Manufacturing Costs Assigned (non-cumulative) ebruary March January $10,200 15,100 4,400 Job $6,500 5,900 4,000 27,300 7,400 100 Job B was completed in January Job A was completed in February INSTRUCTIONS. Determine the following amounts 1 Work in process inventory, January 31 2 Finished goods sold in January 3 Work in process inventory, February 28 4 Finished goods Inventory, February 28 5 Work in process inventory, March 31 6. Finished goods inventory, March Job D was completed in March. Each job was sold in the month FOLLOWING its completion

Explanation / Answer

1 )Work in Process Inventory, January 31

Answer = $14600 (#A 10200 + #C $4,400)

2) Finished goods sold in January

Answer = 15100

3) Work in Process Inventory, February 28

Answer = $ 37600 (#C 10300 + #D $27,300)

4) Finished goods Inventory, February 28

Answer = 10200 + 6500 = 16700

5) Work in Process Inventory, March 31

Answer = $ 19400 (# C 14300 + #E 5100)

6) Finished goods inventory, March

Answer = 34700

Job January February March A 10200 6500 February B 15100 January C 4400 5900 4000 Not complete D 27300 7400 March E 5100 Not complete

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