Tiger Company uses Job-order costing. At the end of themonth, the following data
ID: 2434127 • Letter: T
Question
Tiger Company uses Job-order costing. At the end of themonth, the following data was gathered:
Job# TotalCost Complete? Sold?
429 $409 NO NO
430 $513 YES NO
431 $115 NO NO
432 $790 YES YES
433 $650 YES NO
434 $540 NO NO
435 $90 NO NO
436 $970 YES YES
437 $179 NO NO
438 $400 NO NO
Tiger’s selling price is cost plus 50% for each of itshouses.
A. What is Cost of Goods Sold for the month?
B. What is the total in the Work-in-Process account?
C. What is the total in Finished Goods?
D. What is the selling price of Job 436?
---Should I ass cost plus 50% for each house before solving orshould I just add cost plus 50% to Job 436? Please help!!
Explanation / Answer
Cost of Good Sold
Job Cost 432 790 436 970 Balance 1,760
Work in Progress
Job Cost 429 409 431 115 434 540 435 90 437 179 438 400 Balance 1,733 Cost of Good Sold
Job Cost 432 790 436 970 Balance 1,760
Work in Progress
Job Cost 429 409 431 115 434 540 435 90 437 179 438 400 Balance 1,733
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