Reference no: EM131873878
Problem - Green Bay Packaging manufactures corrugated paper boxes. It uses a job order costing system. Operating data for February and March are as follows:
Job # Date Started Date Finished Date Sold Total Costs as of 2/28/13 Costs incurred in March 2013*
613 1/28 2/5 2/15 $12,500
614 2/5 2/17 2/20 $17,200
615 2/20 2/27 3/5 $18,500
616 2/25 3/10 3/20 $10,100 $13,400
734 2/21 3/15 4/1 $4,300 $8,200
735 2/27 4/1 4/9 $9,100 $2,400
736 3/2 3/22 4/19 $16,300
617 3/15 3/20 3/26 $19,200
618 3/22 4/5 4/15 $14,400
*Does not include costs incurred in February.
There were no other jobs in the plant prior to February 1, 2013.
Required: Calculate the following amounts:
a. Work-in-process inventory as of 2/28.
b. Work-in-process inventory as of 3/31.
c. Finished goods inventory as of 2/28.
d. Finished goods inventory as of 3/31.
e. Cost of goods sold in February.
f. Cost of goods sold in March.
g. Cost of goods sold in April.