MUST SHOW ALL WORK The Merker Manufacturing Company has the following job cost s
ID: 2445026 • Letter: M
Question
MUST SHOW ALL WORK
The Merker Manufacturing Company has the following job cost sheets on file. They represent jobs that have been worked on during April of the current year. This table summarizes information provided on each sheet:
Number
Total Cost Incurred
Status of Job
544
$15,050
Finished and delivered
545
$22,400
Finished and delivered
546
$ 7,500
Finished and unsold
547
$ 4,300
Finished and delivered
548
$33,000
Unfinished
549
$62,000
Finished and unsold
550
$14,600
Unfinished
551
$22,200
Finished and delivered
552
$ 3,600
Finished and unsold
553
$ 1,000
Unfinished
Required:
1. What is the cost of goods sold for the month of April?
2. What is the cost of the Work in Process inventory on April 30?
3. What is the cost of the finished goods inventory on April 30?
Number
Total Cost Incurred
Status of Job
544
$15,050
Finished and delivered
545
$22,400
Finished and delivered
546
$ 7,500
Finished and unsold
547
$ 4,300
Finished and delivered
548
$33,000
Unfinished
549
$62,000
Finished and unsold
550
$14,600
Unfinished
551
$22,200
Finished and delivered
552
$ 3,600
Finished and unsold
553
$ 1,000
Unfinished
Explanation / Answer
1. Cost of the Goods Sold :- Number 544,545,547 & 551 i.e 15050+22400+4300+22200= 63950 $
2. Cost of Work in Progress inventory :- Number 548, 550 & 553 i.e 33000+14600+1000 = 48600 $
3. Cost of finished goods inventory :- Number 546, 549 & 552 i.e 7500+62000+3600 = 73100 $
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.