Expedition Company worked on five jobs during May: Jobs A10, B20, C30, D40, and E50. At the end of May, the job cost sheets for these five jobs contained the following data: Beginning balance Charged to the jobs during May: Direct materials. Direct labor Manufacturing overhead applied Units completed Units sold during May Job A10 $ 213 $250 $ 230 $ 257 260 0 Job B20 $ 230 $ 230 $ 240 $ 270 0 0 Job C30 $ 222 $280 $150 $ 118 120 120 Job D40 $198 $ 180 $260 $ 212 0 0 Job E50 $ 255 Required: 1. What is the cost of goods sold for May? Note: Round "Unit product cost" to 2 decimal places and final answer to nearest dollar amount. 2. What is the total value of the finished goods inventory at the end of May? Note: Round "Unit product cost" to 2 decimal places and final answer to nearest dollar amount. 3. What is the total value of the work in process inventory at the end of May? $360 $ 290 $265 290 240 Jobs A10, C30, and E50 were completed during May. Jobs B20 and D40 were incomplete at the end of May. There was no finished goods inventory on May 1, and the company's total manufacturing overhead applied always equals its total actual manufacturing overhead.

Expedition Company worked on five jobs during May: Jobs A10, B20, C30, D40, and E50. At the end of May, the job cost sheets for these five jobs contained the following data: Beginning balance Charged to the jobs during May: Direct materials. Direct labor Manufacturing overhead applied Units completed Units sold during May Job A10 $ 213 $250 $ 230 $ 257 260 0 Job B20 $ 230 $ 230 $ 240 $ 270 0 0 Job C30 $ 222 $280 $150 $ 118 120 120 Job D40 $198 $ 180 $260 $ 212 0 0 Job E50 $ 255 Required: 1. What is the cost of goods sold for May? Note: Round "Unit product cost" to 2 decimal places and final answer to nearest dollar amount. 2. What is the total value of the finished goods inventory at the end of May? Note: Round "Unit product cost" to 2 decimal places and final answer to nearest dollar amount. 3. What is the total value of the work in process inventory at the end of May? $360 $ 290 $265 290 240 Jobs A10, C30, and E50 were completed during May. Jobs B20 and D40 were incomplete at the end of May. There was no finished goods inventory on May 1, and the company's total manufacturing overhead applied always equals its total actual manufacturing overhead.

Name: Expedition Company worked on five jobs during May: Jobs A10, B20, C30
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Description: Expedition Company worked on five jobs during May: Jobs A10, B20, C30, D40, and E50. At the end of May, the job cost sheets forthese five jobs contained the following data:Beginning balanceCharged to the jobs during May:Direct materialsDirect laborM

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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