Expedition Company worked on five jobs during May: Jobs A10, B20, C30, D40, and E50....

80.2K

Verified Solution

Question

Accounting

Expedition Company worked on five jobs during May: Jobs A10, B20, C30, D40, and E50. At the end of May, the job cost sheets for these five jobs contained the following data: Beginning balance Charged to the jobs during May: Direct materials Direct labor Manufacturing overhead applied Units completed Units in process at the end of May Units sold during May Job A10 $ 123 $ 160 $ 140 $167 170 1. Cost of goods sold for May 2. Finished goods inventory at the end of May 3. Work in process inventory at the end of May 0 0 Job 820 $ 140 $ 140 $150 $180 0 90 0 Job C30 $186 $ 190 $ 105 $ 109 75 0 75 Job D40 $ 144 $135 $ 170 $ 176 0 140 0 Required: 1. What is the cost of goods sold for May? Note: Round "Unit product cost" to 2 decimal places and final answer to nearest dollar amount. 2. What is the total value of the finished goods inventory at the end of May? Note: Round "Unit product cost" to 2 decimal places and final answer to nearest dollar amount. 3. What is the total value of the work in process inventory at the end of May? Job E50 $ 210 Jobs A10, C30, and E50 were completed during May. Jobs B20 and D40 were incomplete at the end of May. There was no finished goods inventory on May 1, and the company's totaj manufacturing overhead applied always equals its total actual manufacturing overhead. $ 270 $ 200 $ 220 200 0 150
image
Expedition Company worked on five jobs during May, Jobs A10, B20, C30, D40, and E5O. At the end of May, the job cost sheets for these five jobs contained the following data: Jobs A10, C30, and ESO were completed during May. Jobs 820 and 040 were incomplete at the end of May. There was no finished goods inventory on Moy 1, and the company's totof manufacturing overhead applied always equals its total actual manufocturing overhead: Required: 1. What is the cost of goods sold for May? Note: Round "Unit product cost" to 2 decimal places and final answer to nearest dollar omouns. 2. What is the totalvalite of the finished goods inventory at the end of May? Note: Round "Unit eroduct cost" to 2 decimal places and final answer to nearest dollar amount. 3. What is the total wphtwict, the work in process inventory at the end of May

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students