Tierney Company begins operations on April 1. Information from job cost sheets shows the following. Manufacturing Costs AssignedJobNumber April May June MonthCompleted10 $ 6,600 $ 5,400 May11 4,600 5,600 $ 3,900 June12 1,700 April13 5,500 5,700 June14 6,300 4,700 Not completeJob 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? Work in Process InventoryApril 30 $ May 31 $ June 30 $

given that, Job 12 was completed in April Job 10 is completed in may Job 11 and and 13 is completed…

Answered: Tierney Company begins operations on…

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter5: Product And Service Costing: Job-order System

Section: Chapter Questions

Problem 17E: During August, Skyler Company worked on three jobs. Data relating to these three jobs follow:...

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Tierney 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	$ 6,600	$ 5,400		May
11	4,600	5,600	$ 3,900	June
12	1,700			April
13		5,500	5,700	June
14		6,300	4,700	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?