Reference no: EM132870184

Problem -

1. Gorman Company builds internal conveyor equipment to client specifications. On October 1, Job 877 was in process with a cost of $18,640 to date. During October, Jobs 878, 879, and 880 were started. Data on costs added during October for all jobs are as follows: Overhead is applied to production at the rate of 80% of direct labor cost. Job 877 was completed on October 28, and the client was billed at cost plus 50%. All other jobs remained in process. What is the price of Job 877?

2. Derry Company uses job-order costing. At the end of the month, the following information was gathered: The beginning balance of Finished Goods was $300, consisting of Job 300, which was not sold by the end of the month. Calculate the balance in Work in Process at the end of the month.

3. Derry Company uses job-order costing. At the end of the month, the following information was gathered: The beginning balance of Finished Goods was $300, consisting of Job 300, which was not sold by the end of the month. Calculate the balance in Finished Goods at the end of the month.

4. Derry Company uses job-order costing. At the end of the month, the following information was gathered: The beginning balance of Finished Goods was $300, consisting of Job 300, which was not sold by the end of the month. Calculate Cost of Goods Sold for the month.