Adams Company is a manufacturing company that has worked on

Adams Company is a manufacturing company that has worked on several production jobs during the first quarter of the year. Below is a list of all the jobs for the quarter: Job No. 356 No. 357 1,235 37 68 ob No. 359 No. 360 Jobs 356, 357, 358, and 359 were completed. Jobs 356 and 357 were sold at a profit of $500 on each job. What is the balance of Sales for Adams Company at the end of the first quarter? Oa. $1,685 Ob. $685 Oc. $1,000 Od. $2,685

Solution

1 Balance of sales = (450+500)+(1235+500)= $2685 2 Ending balance of Work in process = $456 3 Ending balance of Finished goods = 378+689= $1067