Answer:
Sardin Company
a) Calculation of the balances of the work in process:
March April May
Beginning work in process Job 324 $17,000 $20,000 $98,000
Total Ending work in process $20,000 $98,000 $85,000
March April May
Beginning work in process Job 324 $17,000 $20,000 $98,000
Job 324 26,000
Work started Job 325 20,000 28,000 15,000
326 41,000
326 11,000
327 16,000 39,000
328 34,000 51,000
Ending work in process Job 325 (20,000) (48,000)
327 (16,000)
328 (34,000) (85,000)
Total Ending work in process $20,000 $98,000 $85,000
Work completed Job 324 43,000
Job 326 52,000
Job 327 55,000
Job 325 63,000
Total costs of work completed $43,000 $52,000 $ 118,000
b) Calculation of finished goods inventory accounts at the end of May:
March April May
Beginning finished goods $0 $43,000 $52,000
Costs of work completed $43,000 $52,000 $118,000
Finished goods available $43,000 $95,000 $147,000
less Cost of goods sold $0 $43,000 $52,000
Ending finished goods $43,000 $52,000 $147,000
Explanation:
a) Manufacturing Costs Assigned
Job No. March April May
324 $26,000
325 20,000 $28,000 $15,000
326 41,000 11,000
327 16,000 39,000
328 34,000 51,000
