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Jakob Littel

Feb 20, 2025

Accounting E15-10 help please?

Tomlin Company begins operations on April 1. Information from job cost sheets shows the following. Manufacturing Costs Assigned Job Number – April —- May —- June —- Month Completed 10 $5,200(april) $4,400(may) May(completed) 11 4,100(april) 3,900(may) $3,000(june) June(completed) 12 1,200(april) April(completed) 13 4,700(may) 4,500(june) June(completed) 14 4,900(may) 3,600(june) Not complete Job 12 was completed in April. Job 10 was completed in May. Jobs 11 and 13 were completed in June. Each job was sold for 25% above its cost in the month following completion.What is the balance in Work in Process Inventory at the end of each month? April 30 $9300May 31 ???June 30 ???What is the balance in Finished Goods Inventory at the end of each month? April 30 $1,200May 31 $9,600June 30 $20,200 What is the gross profit for May, June, and July?May$300June$2,400July 30 $5,050Can’t seem to get the Works in Progress right. Help please?
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Hermina Ferry

Feb 20, 2025

Look the answers below:Laubitz Company begins operations on April 1. Information from job cost sheets shows the following:Manufacturing Costs AssignedJob NumberAprilMayJuneMonth Completed10 $6,500$4,400May11 4,1004,200$3,200June12 1,400 April13 4,900 3,400 June 14 5,6003,700 Not completeEach job was sold for 25 % above its cost in the month following completion.ANWERS:Work in Process InventoryApril 30$10,600 with correct answerMay 31$18,800 with correct answerJune 30$9,300 with correct answerFinished Goods InventoryApril 30$1,400 with correct answerMay 31$10,900 with correct answerJune 30$19,800 with correct answerMonthGross ProfitMay$350 with correct answerJune$2,725 with correct answerJuly$4,950 with correct answer... Show More
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Hermina Ferry

Feb 20, 2025

you need to take into account past workso may 31 include unfinish from april ectby the way your finish good and g p part will be wrong... Show More
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