E19-22 Completing and selling jobs Jamal Company began operations on July 1, 2013. Information from...
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Accounting
E19-22 Completing and selling jobs Jamal Company began operations on July 1, 2013. Information from job cost sheets shows the following: Job No. 100 Manufacturing Costs Assigned July August September $ 12,000 $ 8,800 8,800 9,700 $ 12,000 5,000 101 102 103 11,800 6,000 104 5,800 7,000 Job 102 was completed in July. Job 100 was completed in August, and Jobs 101 and 103 were completed in September. Each job was sold for 80% above its cost in the month following completion. Requirements 1. Compute the balance in Work-in-Process Inventory at the end of September 2. Compute the balance in Finished Goods Inventory at the end of September. 3. Compute the gross profit for September
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