1.
Concept introduction:
To compute: The Inventory of Work in progress on June 30.
2.
Concept introduction:
Job costing: Job costing refers to the method of costing which is based on a particular project where all the costs and revenues are being tracked for every project or job. Here, all the costs like direct material, direct labor, overheads, etc are being separately written down, and then important decisions and assumptions are made.
To compute: The Inventory of finished goods on June 30.
3.
Concept introduction:
Job costing: Job costing refers to the method of costing which is based on a particular project where all the costs and revenues are being tracked for every project or job. Here, all the costs like direct material, direct labor, overheads, etc are separately written down, and then important decisions and assumptions are made.
To compute: The cost of goods sold on June 30.
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