Question

Laubitz Company begins operations on Apr.1. Information from job cost sheets shows the following:

	Manufacturing Costs Assigned
Job Number	April	May	June	Month Completed
10	$7,500	$4,400		May
11	$4,100	$6,900	$3,000	June
12	$3,200			April
13		$4,700	$9,400	June
14		$4,400	$3,600	Not complete

Each job was sold for 25% above its cost in the month following completion.

(a) Work in Process Inventory at

April 30: $Answer
May 31: $Answer

(b) Finished Goods Inventory at
April 30: $Answer
May 31: $Answer

(c) Gross Profit for
May: $Answer
June: $Answer

Answer 1

Please provide rating..

nswer 1)
	Work in Process Inventory at
	April 30:	=7500+4100		11600
	31-May	=4100+6900+4700+4400		20100
Answer 2)
	Finished Goods Inventory at
	April 30:	$3,200
	31-May	=7500+4400	$11,900
Answer 3)
	Gross Profit for
	April :	0
	May :	=3200*25%	800
	June : - Job 10	=(7500+4400)*25%	2975