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Exercise -

Tierney Company begins operations on April 1. Information from job cost sheets shows the following.

Manufacturing Costs Assigned

Job Number

April

May

June

Month Completed

10

$5,300

$5,500

 

May

11

4,600

4,600

$3,700

June

12

1,600

 

 

April

13

 

5,100

5,900

June

14

 

6,600

4,600

Not Complete

Job 12 was completed in April. Job 10 was completed in May. Jobs 11 and 13 were completed in June. Each job was sold for 25% above its cost in the month following completion.

What is the balance in Work in Process Inventory at the end of each month?

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