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Job cost sheets show the following information: Required: a) Which job(s) are still in...

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Question

Accounting

Job cost sheets show the following information:

image

Required:

a) Which job(s) are still in process at the end of January, and what is the cost of this job(s)? (1 mark)

b) Which job(s) were completed at the end of February, and what is the cost of this completed job(s)? (2 marks)

c) What are the balances in the work in process inventory, finished goods inventory, and cost of goods sold for March? (1.5 marks)

d) How does job costing in a service organisation differ from job costing in a manufacturing organisation? (2.5 marks)

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March Job AA2 AA4 AA5 Total January $2,500 4,838 February $1,200 Completed February January February April Sold Not sold February March Not sold 3,250 3,409 7,859 $2,319 2,319 7,338

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