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E2.10 (LO 2, 4), AP Tierney Company begins operations on April 1. Information from job...

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Accounting

E2.10 (LO 2, 4), AP Tierney Company begins operations on April 1. Information from job cost sheets shows the following. Manufacturing Costs Assigned Job Number April May $5,200 $4,400 4,100 3,900 1,200 a. What is the balance in Work in Process Inventory at the end of each month? b. What is the balance in Finished Goods Inventory at the end of each month? c. What is the gross profit for May, June, and July? Prepare entries for service organizations. June 10 11 12 13 14 Job 12 was completed in April. Job 10 was completed in May. Jobs 11 and 13 were completed in June. Each job was sold for 25% above its cost in the month following completion. Instructions 4,700 5,900 $2,000 Month Completed 4,500 3,600 May June April June Not complete
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Jub 12 war completed in April, Job so wax completed in May. Jobs 11 and i3 were completed in June. Each job was sold for 25% above its cont in the month following completion. Instructions a. What is the balance in Woek in Ptocess Inwitory at the esd of each month? b. What is the balance in Ninished Goods fmvestory at the end of each month? c. What is the zross profit for May, June, and Joly? Prepare entries for servixx organtrations

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