In the Monroe Company, the following Job cards were totaled at the end of the mo
ID: 2556736 • Letter: I
Question
In the Monroe Company, the following Job cards were totaled at the end of the month: ? Job 243 $5,750 Job 244 $4,980 Job 245 $3,675 Job 246 $4,250 Job 247 $5,100 Job 248 $3,800 ? Jobs 243 and 244 were in Finished Goods Inventory at the beginning of the month. Jobs 245 and 246 were in Work-in-process at the beginning of the month. Jobs 247 and 248 were started during the month. At the end of the month, Jobs 243 and 247 were sent to customers; jobs 245, 247, and 248 were completed and sent to finished goods. What is the cost of goods sold for the month? a. $10,730 b. $10,850 c. $12,575 d. none of these
Explanation / Answer
Calculate cost of goods sold :
Goods sent to customer of job 243 and 247.
Cost of job 243 = 5750
Cost of job 247 = 5100
Cost of goods sold = 5750+5100 = 10850
so answer is b) $10,850