Total Cost	Complete?	Sold?
Job 101	$4,500	Yes	No
Job 102	3,400	No	No
Job 103	1,200	No	No
Job 104	2,800	Yes	No
Job 105	3,900	Yes	Yes
Job 106	1,700	No	No
Job 107	6,000	Yes	No
Job 108	7,450	Yes	Yes

The beginning balance of Finished Goods was $4,000 for Job 100, which was not sold by the end of the month.

Required:

1. Calculate the ending balance of Work in Process. $

2. Calculate the ending balance of Finished Goods. $

3. Calculate the ending balance of Cost of Goods Sold. $

4. Suppose that Job 107 had been sold. How would that affect the ending inventory balances and cost of goods sold? Work in Process would , Finished Goods would , and Cost of Goods Sold would .

Applying Concepts

On June 1, Delman Company's work in process inventory consisted of three jobs with the following costs:

	Job 40	Job 41	Job 42
Direct materials	$1,000	$2,000	$700
Direct labor	1,800	1,200	800
Applied overhead	1,260	840	560

During June, four more jobs were started. Information on costs added to the seven jobs during the month is as follows:

	Job 40	Job 41	Job 42	Job 43	Job 44	Job 45	Job 46
Direct materials	$3,000	$5,000	$4,700	$3,400	$1,500	$800	$350
Direct labor	4,000	3,200	2,800	1,300	900	740	160

By the end of June, Jobs 40, 41, 42, and 44 were completed. Jobs 40 and 42 were sold. (There were no jobs in Finished Goods on June 30. Delman Company prices its jobs at cost plus 40%.

Required:

1. Calculate the predetermined overhead rate based on direct labor cost. %

2. Fill in the following table to calculate the ending Work in Process balance for each job as of June 30.

	Job 40		Job 41		Job 42		Job 43		Job 44		Job 45		Job 46
Beginning balance	$		$		$		-		-		-		-
Direct materials	3,000		5,000		4,700		3,400		1,500		800		350
Direct labor	4,000		3,200		2,800		1,300		900		740		160
Applied overhead
Ending balance	$		$		$		$		$		$		$

3. Calculate the ending balance of:

Work in Process	$
Finished Goods	$
Cost of Goods Sold	$

4. Sales revenue for June equaled $