Problem

Ware Paper Box manufactures corrugated paper boxes. It uses a job order costing system....

Ware Paper Box manufactures corrugated paper boxes. It uses a job order costing system. Operating data for February and March are as follows:

Job

Date

Started

Date

Finished

Date

Sold

Total Manufacturing Cost as of 2/28

Total Manufacturing Cost in March*

613

1/28

2/5

2/15

$12,500

614

2/5

2/17

2/20

17,200

615

2/20

2/27

3/5

18,500

616

2/25

3/10

3/20

10,100

$13,400

734

2/21

3/15

4/1

4,300

8,200

735

2/27

4/1

4/9

9,100

2,400

736

3/2

3/22

4/19

16,300

617

3/15

3/20

3/26

19,200

618

3/22

4/5

4/15

14,400

Manufacturing costs incurred only in March. Does not include any manufacturing costs incurred in prior months.

The factory was closed due to a labor strike prior to January 28, when job #613 was started. There were no other jobs in the plant at that time.

Required:

Calculate the following amounts:

a. Work-in-process inventory as of 2/28.

b. Work-in-process inventory as of 3/31.

c. Finished goods inventory as of 2/28.

d. Finished goods inventory as of 3/31.

e. Cost of goods sold for February.

f. Cost of goods sold for March.

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Solutions For Problems in Chapter 9