QUESTION 23 Information based on job cost sheets shows the f

QUESTION 23 Information based on job cost sheets shows the following information Reeder Industries began operations on January 1, 2018 Manufacturing Costs Assigned (non-cumulative) ebruary March January $10,200 15,100 4,400 Job $6,500 5,900 4,000 27,300 7,400 100 Job B was completed in January Job A was completed in February INSTRUCTIONS. Determine the following amounts 1 Work in process inventory, January 31 2 Finished goods sold in January 3 Work in process inventory, February 28 4 Finished goods Inventory, February 28 5 Work in process inventory, March 31 6. Finished goods inventory, March Job D was completed in March. Each job was sold in the month FOLLOWING its completion

Solution

1 )Work in Process Inventory, January 31

Answer = $14600 (#A 10200 + #C $4,400)

2) Finished goods sold in January

Answer = 15100

3) Work in Process Inventory, February 28

Answer = $ 37600 (#C 10300 + #D $27,300)

4) Finished goods Inventory, February 28

Answer = 10200 + 6500 = 16700

5) Work in Process Inventory, March 31

Answer = $ 19400 (# C 14300 + #E 5100)

6) Finished goods inventory, March

Answer = 34700

Job	January	February	March
A	10200	6500		February
B	15100			January
C	4400	5900	4000	Not complete
D		27300	7400	March
E			5100	Not complete