Job-Order Cost Sheets, Balance in Work in Process and Finished Goods Prull Company, a job-order costing firm, worked on three jobs in July. Data are as follows: Balance, July 1 Direct materials Job 86 $21,330 $10,470 Job 87 $6,250 $12,220 Job 88 $0 $16,070 $23,910 Direct labor $16,030 520 $12,200 280 Machine hours 1,010 Overhead is applied to jobs at the rate of $17 per machine hour. By July 31, Jobs 86 and 88 were completed. Jobs 82 and 86 were sold. Job 87 remained in process. On July 1, the balance in Finished Goods was $48,990 (consisting of Job 82 for $25,560 and Job 84 for $23,430). Prull Company Score: 60/60 Job-Order Cost Sheets For the Month of July Job 87 Job 88 $6,250.00 $0.00 2 Balance, July 1 3 Direct materials 16,070.00 Job 86 $21,330.00 10,470.00 16,030.00 8,840.00 $56,670.000 4 Direct labor 12,220.000 12,200.00 4,760.00 $35,430.00 5 Applied overhead 23,910.000 17,170.00 $57,150.00 6 Total 2. Calculate the balance in Work in Process on July 31. The balance in Work in Process on July 31 is $35,430.00 V. Points: 3. Calculate the balance in Finished Goods on July 31. The balance in Finished Goods on July 31 is $80,580.00 V. Points: 4. Calculate Cost of Goods Sold for July The cost of goods sold for July is $82,230.00 POIS! 5. Calculate operating income for Prull Company for the month of July. The operating income for the month of July is $12,564.05 X I Points: Points: 0/1 0/1 Prull prices its jobs at cost plus 30%. During July, variable marketing expenses were 5% of sales, and fixed marketing expenses were $1,960; administrative expenses were $4,800. (Round all amounts to the nearest dollar.) Required: 1. Prepare job-order cost sheets for all jobs in process during July, showing all costs through July 31. 2. Calculate the balance in Work in Process on July 31. 3. Calculate the balance in Finished Goods on July 31. 4. Calculate Cost of Goods Sold for July. 5. Calculate operating income for Prull Company for the month of July. Job-Order Cost Sheets, Balance in Work in Process and Finished Goods Prull Company, a job-order costing firm, worked on three jobs in July. Data are as follows: Balance, July 1 Direct materials Job 86 $21,330 $10,470 Job 87 $6,250 $12,220 Job 88 $0 $16,070 $23,910 Direct labor $16,030 520 $12,200 280 Machine hours 1,010 Overhead is applied to jobs at the rate of $17 per machine hour. By July 31, Jobs 86 and 88 were completed. Jobs 82 and 86 were sold. Job 87 remained in process. On July 1, the balance in Finished Goods was $48,990 (consisting of Job 82 for $25,560 and Job 84 for $23,430). Prull Company Score: 60/60 Job-Order Cost Sheets For the Month of July Job 87 Job 88 $6,250.00 $0.00 2 Balance, July 1 3 Direct materials 16,070.00 Job 86 $21,330.00 10,470.00 16,030.00 8,840.00 $56,670.000 4 Direct labor 12,220.000 12,200.00 4,760.00 $35,430.00 5 Applied overhead 23,910.000 17,170.00 $57,150.00 6 Total 2. Calculate the balance in Work in Process on July 31. The balance in Work in Process on July 31 is $35,430.00 V. Points: 3. Calculate the balance in Finished Goods on July 31. The balance in Finished Goods on July 31 is $80,580.00 V. Points: 4. Calculate Cost of Goods Sold for July The cost of goods sold for July is $82,230.00 POIS! 5. Calculate operating income for Prull Company for the month of July. The operating income for the month of July is $12,564.05 X I Points: Points: 0/1 0/1 Prull prices its jobs at cost plus 30%. During July, variable marketing expenses were 5% of sales, and fixed marketing expenses were $1,960; administrative expenses were $4,800. (Round all amounts to the nearest dollar.) Required: 1. Prepare job-order cost sheets for all jobs in process during July, showing all costs through July 31. 2. Calculate the balance in Work in Process on July 31. 3. Calculate the balance in Finished Goods on July 31. 4. Calculate Cost of Goods Sold for July. 5. Calculate operating income for Prull Company for the month of July