What is balance in work in process inventory at end of month

Assignment Help Financial Accounting

Reference no: EM131206547

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 $5,400 $5,900 May 11 5,800 5,500 $3,800 June 12 1,700 April 13 6,700 5,400 June 14 5,400 4,000 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? What are the Finished goods totals? What is the gross profit for May, June, and July?

Reference no: EM131206547

Questions Cloud

Determining scope of practice for advanced practice nurse : How do State A and State B compare in determining what is within the scope of practice for the advanced practice nurse

Financial structure is simply the liabilities : “Financial Structure” is simply the Liabilities and Owner’s Equity side of the Balance Sheet expressed in percentages. Given your performance measures, what should your financial structure be? Why? List your performance ratios and the priority weight..

What is socially optimal level of automobile tire production : What is the socially optimal level of automobile tire production? What is the total net loss to society from the production of tires 49 through 60?

Under what circumstances is ethnicity apparent : Under what circumstances is ethnicity apparent? How can an ethnic identity be both positive and perhaps counterproductive? How do you think that the media today can impact people's perceptions on ethnicity? Do you think the media is a positive or ..

What is balance in work in process inventory at end of month : 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 $5,400 $5,900 May 11 5,800 5,500 $3,800 June 12 1,700 April 13 6,700 5,400 Ju..

Diversity training and diversity management : Distinctive HR Policies and Practices (an introduction followed by second-level headings for each policy and/or practice that you are going to discuss) The company is Build a Bear and the HR policy is diversity training and diversity management.

Discusses a project that was performed : Please find an article (academic preferably) that discusses a project that was performed. Please describe the follow (in detail) with regard to the structure we have learned about below:

Define at least two potential solutions to the social issue : Are there any conflicts among the various perspectives regarding potential solutions to the social issue? What are the conflicts that exist? If you do not believe there are any conflicts, explain how you arrived at this conclusion.

Warranty expense accrued for financial reporting purposes : The tax rate enacted for 2015 and future years is 40%. Differences between the 2015 income statement and tax return are listed below. Warranty expense accrued for financial reporting purposes amounts to $5,000. Warranty deductions per the tax return ..

User Account

All Pages