On April 1, Maple Corp. had these jobs in its work-in-process account: ...
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Accounting
On April 1, Maple Corp. had these jobs in its work-in-process account: | ||||||||||||||||||||||||||||||||
Job # | Total Cost | |||||||||||||||||||||||||||||||
74 | $1,100 | |||||||||||||||||||||||||||||||
77 | $2,400 | |||||||||||||||||||||||||||||||
During April, the following took place: | ||||||||||||||||||||||||||||||||
Materials | Labor | |||||||||||||||||||||||||||||||
Job # | Used | Used | Job status at April 30th | |||||||||||||||||||||||||||||
74 | $ 400 | $ 750 | Completed, not sold | |||||||||||||||||||||||||||||
77 | 540 | 930 | Completed and sold | |||||||||||||||||||||||||||||
78 | 350 | 390 | Completed and sold | |||||||||||||||||||||||||||||
79 | 210 | 170 | In progress | |||||||||||||||||||||||||||||
80 | 180 | 280 | In progress | |||||||||||||||||||||||||||||
Maple applies manufacturing overhead cost at the rate of 80% of labor cost. | ||||||||||||||||||||||||||||||||
Compute the balance in Maple's work-in-process account on April 30th: Compute the balance in Maples finished goods inventory on April 30th. Compute Maples cost of goods sold on April 30th
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