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Wildhorse Company begins the month of March with $22,100 of Work in Process Inventory from Job 324. Information from job cost sheets shows the following additional costs assigned during March, April, and May of 2022:     Manufacturing Costs Assigned   Job No.   March   April   May   324   $33,800           325   26,000   $36,400   $19,500   326   53,300   14,300       327       20,800   50,700   328       44,200   66,300   Job 324 was completed in March. Jobs 325 and 327 were completed in May, and Job 326 was completed in April. Jobs are sold during the month after completion. Total revenue for jobs sold during the 3-month period is $188,500. Calculate the balance of the Work in Process Inventory accounts at the end of May.     Work in Process Inventory Accounts Job 328   $ Calculate Finished Goods Inventory accounts at the end of May.     Finished Goods Inventory Accounts Job 325   $ Job 327   $

Wildhorse Company begins the month of March with $22,100 of Work in Process Inventory from Job 324. Information from job cost sheets shows the following additional costs assigned during March, April, and May of 2022:     Manufacturing Costs Assigned   Job No.   March   April   May   324   $33,800           325   26,000   $36,400   $19,500   326   53,300   14,300       327       20,800   50,700   328       44,200   66,300   Job 324 was completed in March. Jobs 325 and 327 were completed in May, and Job 326 was completed in April. Jobs are sold during the month after completion. Total revenue for jobs sold during the 3-month period is $188,500. Calculate the balance of the Work in Process Inventory accounts at the end of May.     Work in Process Inventory Accounts Job 328   $ Calculate Finished Goods Inventory accounts at the end of May.     Finished Goods Inventory Accounts Job 325   $ Job 327   $

Cornerstones of Cost Management (Cornerstones Series)
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 15E: On August 1, Cairle Companys work-in-process inventory consisted of three jobs with the following...
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Wildhorse Company begins the month of March with $22,100 of Work in Process Inventory from Job 324. Information from job cost sheets shows the following additional costs assigned during March, April, and May of 2022:

   
Manufacturing Costs Assigned
  
Job No.
  
March
  
April
  
May
  
324
  
$33,800
          
325
  
26,000
  
$36,400
   $19,500  
326
  
53,300
  
14,300
      
327
      
20,800
   50,700  
328
      
44,200
   66,300  


Job 324 was completed in March. Jobs 325 and 327 were completed in May, and Job 326 was completed in April. Jobs are sold during the month after completion. Total revenue for jobs sold during the 3-month period is $188,500.

Calculate the balance of the Work in Process Inventory accounts at the end of May.

   
Work in Process Inventory Accounts
Job 328
  
$


Calculate Finished Goods Inventory accounts at the end of May.

   
Finished Goods Inventory Accounts
Job 325
  
$
Job 327
  
$
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