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During a Recent Month Pisces, Inc

Question 132

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During a recent month Pisces, Inc. reported the following activity:
Jobs
1 2 3 4
Beginning balance $1,500 $2,000 $1,000 $ 400
Direct materials 0 100 1,200 3,000
Direct labour 495 405 300 450
Direct labour hours 33 27 20 30
Overhead is allocated at $7.50 per direct labour hour. Jobs 1, 2, and 4 were completed, and Job 2 was delivered to the customer.
Determine the following amounts:
a)Ending work in process inventory
b)Cost of the jobs that were completed
c)Costs of goods sold
d)Ending finished goods inventory

Correct Answer:

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a)$2,650.00 (= Cost of Job 3);...

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