Prull prices its jobs at cost plus 20%. DuringJuly, variable marketing expenses were 4% ofsales, and fixed marketing expenses were$1,275; administrative expenses were $3,900.(Round all amounts to the nearest dollar.)Required:1. Prepare job-order cost sheets for alljobs in process during July, showing allcosts through July 31.2. Calculate the balance in Work inProcess on July 31.3. Calculate the balance in FinishedGoods on July 31.4. Calculate Cost of Goods Sold for July.5. Calculate operating income for PrullCompany for the month of July. Job-Order Cost Sheets, Balance in Work inProcess and Finished GoodsPrull Company, a job-order costing firm,worked on three jobs in July. Data are asfollows:Job 86Job 87Job 88Balance, July 1$15,310$ 4,2502$Direct materials$ 4,450$10,300$13,150Direct labor$16,000$12,200$24,000Machine hours5003001,000Overhead is applied to jobs at the rate of $10machine hour. By July 31, Jobs 86 and 88perwere completed. Jobs 82 and 86 were sold. Job87 remained in process. On July 1, the balancein Finished Goods was $49,000 (consisting ofJob 82 for $25,600 and Job 84 for $23,400).

Name: Prull prices its jobs at cost plus 20%. DuringJuly, variable marketin
Uploaded: 2024-03-20T06:32:49.000Z
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Description: Prull prices its jobs at cost plus 20%. DuringJuly, variable marketing expenses were 4% ofsales, and fixed marketing expenses were$1,275; administrative expenses were $3,900.(Round all amounts to the nearest dollar.)Required:1. Prepare job-order cos