Laubitz Company begins operations on Apri 1. Information from Job cost sheets shows...
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Laubitz Company begins operations on Apri 1. Information from Job cost sheets shows the following Manufacturing Costs Assigned May $4,400 $3,900 Job Number 10 April $6,500 $4,100 $1,200 June onth leted May June April June Not Complete $3,000 12 13 14 $4,700 $5,400 $3,400 $3,600 Each Job was sold for 30% above its cost in the month following completion. Hint: Determine the month sold for each job and then complete the question. Remember to add the total costs of the jobs in April, May and June Use the information provided to answer the following questions: a) What is the value of Laubitz's work-in-process inventory on June 30th? $ b) What is the value of Laubitz's finished goods inventory on June 30th? $ c) What is the value of Laubitz's gross profit for the month of July only? $
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