I JUST NEED PART C ANSWERED Triple C Ltd. is in the business of manufacturing ca
ID: 2492563 • Letter: I
Question
I JUST NEED PART C ANSWERED
Triple C Ltd. is in the business of manufacturing cabinets, computer stands, and countertops. Most of its jobs are contracts for home builders. The following information is available for the month of July: Activity in accounts: On July 1, finished goods inventory consisted of one job, 105, with a total cost of $18,000. This job was sold during July. Your answer has been saved and sent for grading. See Gradebook for score details. Calculate the costs of completed jobs 101 and 111 as at July 31. Your answer has been saved and sent for grading. See Gradebook for score details. Calculate the account balances in direct materials inventory as at July 31. Calculate the work in process inventory as at July 31.Explanation / Answer
Opening Balance Added in July Total of The job Job status Details Direct Materials Direct Labor Mfg Overhead Direct Materials Direct Labor Mfg Overhead Job 101 9,000 2,000 2,400 - 1,000 1,200 15,600 FG stock Job 103 2,500 1,500 1,800 3,600 3,800 4,560 17,760 WIP stock Job 111 600 100 120 500 3,000 3,600 7,920 FG stock Job 115 - - - 800 200 240 1,240 WIP stock WIP Inventory as on Jul 31. Amt $ Job 103 17,760 Job 115 1,240 Total WIP inventory Jul 31. 19,000 So WIP inventory on Jul 31=$19,000
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