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5-38 Balance of Work in Process and Finished Goods, Cost of Goods Sold Derry Company uses job-order costing. At the end of the month, the following

5-38 Balance of Work in Process and Finished Goods, Cost of Goods Sold

Derry Company uses job-order costing. At the end of the month, the following information was gathered:

Job #Total CostComplete?Sold?301$1,660 YesNo3021,130 YesYes303800 NoNo3042,370 YesNo3054,020 YesNo306320 NoNo307680 YesYes308550 NoNo3091,200 NoNo310400 NoNo

The beginning balance of Finished Goods was $340, consisting of Job 300 which was not sold by the end of the month.

Required:

1. Calculate the balance in Work in Process at the end of the month.

$

2. Calculate the balance in Finished Goods at the end of the month.

$

3. Calculate Cost of Goods Sold for the month.

$

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