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Jupiter Manufacturing began business on January 1. During its first year of operation, Jupiter ...

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Jupiter Manufacturing began business on January 1. During its first year of operation, Jupiter ...

Jupiter Manufacturing began business on January 1. During its first year of operation, Jupiter worked on five industrial jobs and reported the following information at year-end:

   Job 1   Job 2   Job 3   Job 4   Job 5
Direct Materials   1,000   7,500   4,000   3,500   1,700
Direct Labor   12,000   20,000   13,000   12,000   700
Allocated Mfg. Overhead   1,500   6,000   2,500   7,500   400
Job completed:   Jun 30   Sep 1   Oct 15   Nov 1   Not completed
Job sold:   Jul 10   Sep 12   Not sold   Not sold   N/A
Revenues:   25,000   39,000   N/A   N/A   N/A

What was the balance in Work-in-Process Inventory at year-end?
A) $2,100
B) $2,400
C) $1,100
D) $2,800

Textbook

Horngren's Financial & Managerial Accounting, The Financial Chapters

Edition: 5^th

Authors: Miller-Nobles, Mattison, Matsumura

Read 1248 times

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H3Ko Author

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7 years ago

I posted this question a while back then forgot to check the forum lol Thanks for answering, you were right

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thanks you

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