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Tiger Company uses Job-order costing. At the end of themonth, the following data was gathered:

Job#                   TotalCost           Complete?           Sold?

429                      $409                      NO                     NO

430                      $513                      YES                     NO

431                      $115                      NO                      NO

432                      $790                      YES                     YES

433                      $650                      YES                     NO

434                      $540                      NO                      NO

435                      $90                       NO                       NO

436                      $970                      YES                     YES           

437                      $179                      NO                      NO

438                      $400                      NO                      NO

Tiger's selling price is cost plus 50% for each of its houses.

A. What is Cost of Goods Sold for the month?

B. What is the total in the Work-in-Process account?

C. What is the total in Finished Goods?

D. What is the selling price of Job 436?

---Should I add cost plus 50% for each house before solving orshould I just add cost plus 50% to Job 436? Please help!!

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M9797869

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